Which of the following is NOT considered exempt from licensure in real estate?

In the context of real estate licensure, understanding who is exempt is crucial. Each of the groups mentioned in the options traditionally operates under certain legal frameworks that allow them to engage in real estate activities without needing a license.

A sole proprietor and their W2 salaried employees typically do not fall into the category of exemptions. While the sole proprietor may handle real estate transactions for their own properties, their employees do not have the same level of exemption. They must possess a real estate license if they engage in activities that require licensure, such as negotiating the sale of real estate or soliciting clients.

On the other hand, general partners of a partnership, managers of an LLC, and officers, and directors of a corporation typically do not need licenses when acting on behalf of their respective entities, as they are considered to be acting on behalf of the partnership or corporation for its best interest. This distinction is important as it separates individual actions from entity actions within real estate transactions. The licensed exemption is designed to facilitate business operations without imposing unnecessary barriers in those specific roles.

Therefore, the answer highlighting that a sole proprietor and their W2 salaried employees do not have this exemption reflects a clear understanding of licensure requirements in real estate practices.