Final answer:
A real estate license is required for those who perform renting, leasing, or tenant procurement activities on behalf of others. Option c) 'perform these activities on behalf of others' is the correct answer where a real estate license would be necessary.
Step-by-step explanation:
A real estate license is not required for those who, for a fee, rent or lease or procure tenants for a property unless they perform these activities on behalf of others. When handling such transactions as an employee or an agent for a property owner, a license is typically mandatory. This is in line with various occupational licenses that serve to establish quality and ensure that a worker has completed a certain type of education or has passed a specific test. In the real estate industry, being a licensed broker or agent is crucial for engaging in activities such as renting, leasing, buying, or selling properties on behalf of clients.
In the context of the options provided, option c) is the correct answer. Those who deal exclusively with commercial properties, handle a certain number of transactions per year, or collect rent payments do not necessarily need a real estate license unless they are performing these tasks for someone else. The requirement for a license comes into play when one acts in a fiduciary capacity, managing transactions for someone else's property.