Final answer:
A real estate broker operating a prepaid rental listing service is exempt from holding a real estate license.
Step-by-step explanation:
A real estate broker operating a prepaid rental listing service is exempt from the requirement of holding a real estate license. Prepaid rental listing services are companies that charge a fee to provide a list of available rental properties to potential tenants. While real estate brokers typically need a license to operate, there are certain exemptions in place to allow prepaid rental listing services to operate without a license.
This exemption is due to the fact that prepaid rental listing services do not engage in the actual negotiation or rental of properties. They simply provide a list of available properties for potential tenants to review. Therefore, they are not involved in the same activities that require a real estate license, such as representing clients in property transactions or collecting fees in connection with leasing or renting properties.