I want to know if there is any way in WordPress that only Admin can update/edit or delete published posts/listings. User who have submitted the post/listing can't even edit/update or delete it.
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Summary of Roles:
Super Admin - Someone with access to the blog network administration features controlling the entire network (See Create a Network).
Administrator - Somebody who has access to all the administration features
Editor - Somebody who can publish and manage posts and pages as well as manage other users' posts, etc.
Author - Somebody who can publish and manage their own posts
Contributor - Somebody who can write and manage their posts but not publish them
Subscriber - Somebody who can only manage their profile