Final answer:
A net listing in real estate involves the seller setting a target price and agreeing to pay the broker any excess as commission. Price control measures like price ceilings or floors may influence pricing strategies. Escrow is a third-party service that manages funds for property-related expenses.
Step-by-step explanation:
The concept described in the question relates to a net listing in real estate where the seller sets a desired price for their property and agrees to pay the broker any amount above that price as commission. In a market with multiple buyers, price control mechanisms such as a price ceiling or a price floor may impact the negotiation. A price ceiling is a legal maximum price that can be charged for a good or service, and a price floor is a legal minimum. These are forms of price control that the government uses to regulate prices instead of allowing free market forces to operate. Meanwhile, Escrow is an important concept in the home buying process, where a neutral third party holds and disburses funds for home insurance and property taxes as part of the buyer's regular monthly payment.