Which of the following activities does NOT require a real estate license?

Conducting an auction does not require a real estate license because auctioneers can operate independently of real estate licensing regulations, as long as they are selling property at public auctions. Their activities typically fall under auctioneer licensing, rather than real estate licensing.

In contrast, selling real estate as a licensed agent, managing real estate for multiple clients, and facilitating property transactions all necessitate being a licensed real estate professional. These activities involve representing clients in legal agreements and transactions related to real property, which requires specific knowledge of real estate laws, ethics, and contractual obligations that are covered in a formal real estate education and licensing process. Consequently, those activities are regulated to ensure that clients receive professional and ethical representation.