Are you considering a career in Real Estate Appraisal in Province of New Brunswick?
In order to practise real estate appraisal in the Province of New Brunswick you must become a “Registered” member of the New Brunswick Association of Real Estate Appraisers/Association des évaluateurs immobiliers du Nouveau-Brunswick (NBAREA/AEIN-B), pursuant to the New Brunswick Association of Real Estate Appraisers Act” which was approved by the Provincial Legislature and which came into effect on January 1, 1995.
Section 15 of the Act provides four doors by which you may apply for membership:
- You are a member of the Appraisal Institute of Canada (AIC) in good standing;
- You are the holder of the designation of Market Value Appraiser (MVA) – Residential from The Canadian Real Estate Association (CREA);
- You have passed examinations prescribed by our Committee of Examiners and have proved that you have sufficient experience in real estate appraisal to quality for registration to practise;
- You are registered to practise in another province or territory within Canada.
If you are applying under number 3, please complete the Application for Registration to Practise (available on this website) and return it to the NBAREA/AEIN-B office for processing.
If you intend to apply for registration to practise under number (2) or (4), please forward the following to the Association Office:
- Proof of membership in either (2)or (4) as indicated above.
- Two written references (not family members);
- Complete the Application for Registration form in this section, and forward it to the Association with a cheque in the sum of $649.75 representing the following:
|
a) |
Application Fee (1st time fee) |
$ 75.00 |
|
b) |
Registration Fee: (annual) |
$250.00 |
|
c) |
NBAREA Membership Dues: (annual) |
$250.00 |
|
d) |
13% HST |
$ 74.75 |
If you are applying to become “Registered to Practise” as well as applying to be a member of the Appraisal Institute of Canada, please be advised that the NBAREA/AEIN-B, by way of an Affiliation Agreement, administers the AIC’s services in the Province, including the processing of its applications for membership. Therefore, if you intend to apply for membership with the AIC, please forward the following to the NBAREA/AEIN-B office:
- Proof of successful completion of course BUSI 330 - Foundations of Real Estate Appraisal;
- Proof of post secondary education
- Proof of completion of the Appraisal Standards Seminar;
- Completed Application for Registration as well as the AIC’s Application for Candidacy(available on our website); and
- A cheque in the sum of $593.25 (see breakdown above). You will be invoiced separately from AIC for your Candidacy membership.
Upon receipt of the above noted requirements, your application will be forwarded to our Committee of Examiners who will determine if you are eligible to be “Registered to Practise” real estate appraisal in the Province of New Brunswick. You will be advised of their decision within 10 – 14 business days.
Please be advised that upon acceptance of your Application for Registration to Practise you will have 30 days in which to provide the Association with written proof that you have obtained professional liability insurance coverage of not less than one million dollars pursuant to the Association’s Bylaws. Please note: that you cannot practise real estate appraisal until you have insurance in place.
Furthermore, please be advised that NBAREA/AEIN-B has a Continuing Professional Development (CPD) program for all members, excluding retired members. This program is based on a 5-year cycle with members being obliged to obtain a minimum of 60 CPD credits. This includes a requirement for a minimum of 6 credits which must be earned (and reported by December 31st) in each year of the cycle.
These credits are earned via education seminars provided by the Association and other professional associations.
Finally, all members of NBAREA/AEIN-B are obliged to follow the Uniform Standards of Professional Appraisal Practise (USPAP) or the Canadian Uniform Standards of Professional Appraisal Practise, copies of which may be obtained from our Association office.
If you intend to become a member of the Canadian Real Estate Association (CREA), please contact them directly at (613) 237-7111.
If you have any questions, please do not hesitate to contact us; I look forward to receiving your Application for Registration to Practise.
