I found a web site with some info. I cite below and provide the link as well.
Must California property managers have a real estate broker's license?
YES. A broker's license is required for any person or company that, for compensation, leases or rents or offers to lease or rent, or places for rent, or solicits listing of places for rent, or solicits for prospective tenants, or negotiates the sale, purchase or exchanges of leases on real property, or on a business opportunity, or collects rents from real property, or improvements thereon, or from business opportunities. Businesses and Professions Code, Chapter 3, Article 1, Sec. 10131(b). A salesperson working under a broker may engage in such activities.