Who is not required to have a real estate license?

The correct response is based on the understanding that certain individuals are exempt from needing a real estate license while conducting specific business activities. In this case, an auctioneer employed by the owner is not required to obtain a real estate license when they are acting on behalf of the property owner. This exemption is granted because the auctioneer is engaged in selling the owner's property as an employee and not as an independent broker or agent.

The rationale behind this exemption lies in the nature of the relationship between the auctioneer and the owner; since the auctioneer is working on direct orders and under employment, they do not operate independently in the real estate market. Licensing requirements are generally aimed at those who offer real estate services to the public or for compensation, which does not apply in this scenario.

Other roles, such as executors of estates who act under court order, government employees conducting official duties, or owners and lessors managing their property, each have specific contexts where they might be exempt from licensing. However, in this instance, it is the auctioneer employed directly by the owner that stands out as not requiring a broker's or agent's license in the state of Montana.