Which of the following individuals does NOT require a real estate license?

In the context of real estate licensing, individuals typically require a license when they are engaging in activities that involve representing others in real estate transactions or managing properties for other owners. The individual who does not require a real estate license is someone selling their own properties, which applies to a building contractor selling his own homes.

When a building contractor sells homes that they have constructed, they are acting on their own behalf rather than representing another party. In many jurisdictions, laws typically allow property owners to sell their own real estate without needing a real estate license, which is why this answer is considered correct.

In contrast, real estate agents acting as buyer's representatives need to be licensed to represent clients in the buying process. Property managers, who manage property for other owners, are also required to have a license because they are acting on behalf of another person's property interests. Real estate investors may need a license depending on the activities they engage in, especially if they are acting as intermediaries in property transactions.