Which of the following is exempt from licensing requirements?

Employees of a property owner are exempt from licensing requirements because their role typically involves acting under the direct supervision and authority of the property owner. In many jurisdictions, including Wyoming, employees who are engaged in transactions related to the property they work for—such as managing, leasing, or selling the property—do not need to obtain a real estate license. This exemption is based on the understanding that they are not acting as independent agents performing services for others but rather fulfilling their job responsibilities as part of their employment with the property owner.

In contrast, independent contractors working as agents generally operate as real estate brokers or salespersons and must be licensed to ensure they adhere to legal and regulatory standards in real estate transactions. House flippers, who buy properties with the intention to renovate and sell them for profit, also often need to be licensed, depending on their activities related to the sale of the properties. Similarly, while real estate investors buy and hold properties, if they engage in selling those properties as part of a business, licensing may apply. Thus, the key exemption for employees of a property owner is rooted in their employment status and the direct relationship with the property owner, distinguishing them from independent contractors and commercial real estate participants.