Which of the following is not considered a real estate service that requires licensing?

Real estate advertising is not considered a real estate service that requires licensing because it does not involve the direct handling or management of real estate transactions. Advertising is generally regarded as a promotional activity that can be performed by anyone, including individuals who are not licensed real estate professionals. It does not necessitate the specialized knowledge or compliance with regulatory requirements that are necessary for tasks such as managing property, brokering sales, or appraising.

In contrast, property management involves overseeing and maintaining real estate properties, which requires knowledge of local laws, tenant relations, and financial management. Brokering a sale entails negotiating and facilitating the buying and selling of properties, a process that mandates a real estate license for legal compliance. Appraising involves assessing the value of properties and requires training and certification to ensure accurate evaluations. Therefore, these activities are tightly regulated and clearly need appropriate licensing to protect both consumers and industry standards.