Colorado License Law
Under Colorado law, a broker's duty to a client and a customer differs most significantly in that:
AA. A broker owes no duty to customers
BB. A client receives full representation duties (fiduciary or limited representation depending on the type of agency); a customer only receives limited duties of honesty and non-misleading conduct✓ Correct
CC. A customer pays higher fees than a client
DD. A broker can never represent both clients and customers simultaneously
Explanation
In Colorado, a 'client' is someone with whom the broker has a formal representation agreement (listing agreement or buyer broker agreement) — they receive the full statutory duties (as either single agent or transaction broker). A 'customer' receives only the basic duties: honest dealing, no misleading statements, and disclosure of material facts. The BRRET form explains these distinctions.
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