Who is exempt from licensing requirements when selling properties at foreclosure?

Individuals who are exempt from licensing requirements when selling properties at foreclosure primarily include bank employees. This exemption allows bank employees to facilitate the sale of foreclosed properties without requiring a real estate license, as they are acting directly on behalf of the bank that owns the property.

In the context of foreclosure sales, bank employees typically perform duties that involve the management and sale of real estate owned by the bank, often as part of their job responsibilities. Therefore, since they are employed by the bank and are involved in the disposition of properties that the bank has taken back through foreclosure, they do not need to obtain a real estate license.

Employees of appraisal companies do not fall under this exemption, as their role is focused on valuing properties rather than selling them. Similarly, real estate agents are required to have a license to engage in the business of selling real estate, including foreclosure properties. Property owners can sell their own properties without a license, but this does not apply to the act of selling properties that they do not own, such as properties that are in foreclosure status held by a bank.