Which individual would not be exempt from the requirements for licensure as a broker or salesperson?

The individual who would not be exempt from the requirements for licensure as a broker or salesperson is indeed the property manager of an office building. Even though property managers perform essential functions in managing real estate properties, they are typically engaged in activities that can be considered real estate brokerage, such as leasing and renting properties, collecting rents, and handling agreements on behalf of property owners. These activities require a real estate license in order to ensure that property managers adhere to state laws and regulations governing real estate transactions.

In contrast, an attorney-at-law is exempt while acting in their professional capacity because they are licensed to practice law and are often involved in legal transactions related to real estate. A developer-owner of a shopping mall is also exempt from licensure requirements as they are managing their own property rather than acting on behalf of others. Similarly, a resident manager of a residential building is typically an employee of the property owner and may manage day-to-day operations without needing a license.

Thus, the property manager's role involves responsibilities that necessitate licensure, distinguishing it from the exemptions relevant to the other listed individuals.