If I take my sim card out of my iPhone is it considered unlocked?

If I take my sim card out of my iPhone is it considered unlocked because if it is I could get more money for my iPhone 4S if I say it's unlocked

No, unlocked means you can use it on different carriers.

"unlocked" is when there's no password to open the phone. People that steal locked phones can't unlock them unless they guess at the password correctly. So people buy a stolen phone and can't do anything with them. People put "unlocked" so that way you can go in an edit the phone and make it yours. No one stolen my phone, and of they did they would never guess the code. Locked forever! Btw id always take the sim card out before selling a personal phone.

Taking out a SIM from a phone doesn't mean it is unlocked. To unlock a phone you need to enter the respective unique unlock code.
But iPhone can be unlocked safer and easier through remote unlocking method. This method of unlocking is also affordable too. You can get the remote unlocking for an iPhone 4S from http://www.unlocking4u.com/apple-iphone-4s/rs6wp9/ This method of unlocking is very simple.
Here are the steps for unlocking an iPhone 4S,
1. Wait for us to send you an email saying your phone has been activated or remotely unlocked.
2. Install the latest version of iTunes.
3. Make sure your Apple iPhone 4S phone software is updated to the latest version using the iTunes software.
4. Connect your Apple iPhone 4S to iTunes with a NOT ACCEPTED SIM card.
5. Wait until iTunes detects your Apple iPhone 4S.
6. Disconnect your Apple iPhone 4S and reconnect it after 10 seconds.
7. Your Apple iPhone 4S is now unlocked.

Networks lock phones so that other network sims can't be used in them. However, they do allow unlocks with a code.
You can get an unlock code from somewhere like http://www.cellfservices.com/store/unlock-apple-iphone-4s.html