Which of the following best describes the duties owed to a customer?

The duties owed to a customer are best described as limited compared to those owed to a client. In a real estate context, a client is an individual or entity that has signed a contract with a real estate agent, thereby establishing a fiduciary relationship. This relationship entails a higher standard of care and loyalty, meaning the agent must act in the client's best interests at all times.

In contrast, a customer does not have this formal relationship with the agent. The agent must still treat the customer fairly and honestly, but the legal obligations are significantly less intense. They do not have a fiduciary duty to the customer, which usually involves a greater level of protection and service. Therefore, the duties owed to a customer center around basic honesty and fair dealing, rather than the extensive and fiduciary responsibilities owed to clients.

Understanding this distinction is crucial for real estate professionals, as it helps delineate the nature of their responsibilities depending on whether they are dealing with a client or a customer.