Final answer:
Section 3 of RESA details exemptions from the licensing requirement for real estate, typically including owners selling their own property, attorneys in legal transactions, and bank employees in foreclosure sales.
Step-by-step explanation:
The student's question refers to Section 3 of the Real Estate Service Act (RESA) which outlines exemptions from the requirement to hold a real estate license. While the specifics of these exemptions can vary depending on jurisdiction, generally, they include allowances for certain individuals and entities to engage in real estate practices without a standard license as long as they adhere to specific conditions set by the law. Common exemptions may include owners selling their own property, attorneys handling real estate transactions as part of legal services, and bank employees conducting sale transactions as part of foreclosure proceedings.