Which of the following is exempt from obtaining a real estate license to sell real estate?

• A. A licensed attorney
• B. A licensed builder
• C. A licensed property manager
• D. A licensed appraiser

Answer: (B)

The key idea is that real estate licensing exemptions apply when someone is selling property in a non-broker role, typically as the owner. A builder who sells homes they have constructed is acting as the seller of their own property, not as a real estate broker representing buyers or sellers. Because they’re the principal in the transaction, they don’t need a real estate license to sell those homes.

If the builder were selling for someone else or performing brokerage duties (marketing, showing, negotiating on behalf of a client), then a real estate license would be required. The other roles listed aren’t blanket exemptions for selling real estate; attorneys are exempt only for legal work, and property managers or appraisers have licensing specific to their fields and would generally still need real estate licensure to engage in brokerage activities.