If we understand your question correctly, you are asking if it is possible to have registered users such as 'Subscribers' be able to add listings which will not be visible on the site until approved by an Admin.
The plugin allows any user with permissions equivalent to Editor or above to add a listing. Once the listing is added it will be published immediately and automatically appear wherever listings appear on the site. Listings do not currently support a pending state.
Listings do not currently support approval status options.
If you are referring to the admin pages marked 'Listings' and 'Property Pages' - they show essentially the same thing. As you add listings via the Add Listings page they will appear in the LIstings page. Once they appear in a listing result on a user facing page, they will also appear in the 'Property Pages' list of the admin.