NBAREA was established under the New Brunswick Association of Real Estate Appraisal Act, 1994.   Anyone who engages in the practice of real estate appraisal must be a registered member with NBAREA, unless exempted under section 26 of the Act. 

The Association, as its purpose, serves and protects the public interest by regulating the practice of real estate appraisal and the governing of its members in accordance with the New Brunswick Association of Real Estate Appraisers Act and the NBAREA bylaws. NBAREA is governed by an elected Board of Directors, which includes one lay representative who is appointed for two-year terms by the Lieutenant Governor in Council.