Final answer:
The term for a real estate agent misleading a customer about the availability of a property is 'steering.' It is a discriminatory practice that contributes to neighborhood segregation, distinct from 'blockbusting', which incites white flight.
Step-by-step explanation:
The term used to describe a situation in which a real estate licensee tells a customer an advertised property is not available for sale when in fact it is, is steering. This practice involves directing potential homebuyers towards or away from certain neighborhoods based on their race or ethnicity. While steering may sometimes appear to be a benign or subconscious act, it is considered discriminatory and contributes to the maintenance of segregated neighborhoods. On the other hand, blockbusting is a separate practice where real estate agents play on the racial fears of white homeowners, suggesting that minority families moving into the neighborhood will lower property values, prompting a sell-off at reduced prices. This practice contributes to a phenomenon known as white flight.