Which of the following individuals is NOT required to be licensed as a broker or sales agent?

The individual who is leasing her employer's single-family property is not required to be licensed as a broker or sales agent because this activity falls under an exemption in real estate licensing laws. If an employee is leasing property owned by their employer, and they are doing so in the course of their employment without receiving a commission or compensation directly from the leasing activity, they are typically acting within the scope of their job rather than as a separate real estate professional. This scenario is common in cases where employees manage properties on behalf of their companies, as they do not engage in the business of brokering real estate transactions.

In contrast, the other options involve activities that would require a license. Selling real estate for compensation involves representing clients in the sale or purchase of properties, which is a regulated activity requiring a license. Managing rental properties for clients requires oversight of tenants and leases, which encompasses various fiduciary responsibilities that also necessitate a license. Finally, advertising homes for sale typically suggests a role in marketing properties for others, which is considered a form of brokerage activity and requires licensure.