NBAREA Members 

What you need to know

New Brunswick and Nova Scotia are the only two provinces with laws regulating the practice of real estate appraisal.  This form of professional self-regulation is a privilege that comes with significant responsibilities. A system of self-regulation only works when it enjoys the confidence of the public. To maintain this trust and to protect the public, NBAREA is dedicated to ensuring that appraisers are aware of their ethical, legal and professional obligations.

Professional Obligations

As a member of NBAREA, you have professional responsibilities that you must fulfill in order to remain in good standing.  These responsibilities include:

• Practising in compliance with relevant federal, provincial, and municipal legislation, including the New Brunswick Association of Real Estate Appraiser’s Act (the Act) and By-laws.   Depending on the nature of your practice, there may be other legislation impacting your practice.  For example, privacy legislation, property assessment legislation.   You are responsible for identifying and complying with all other legislation relevant to your practice. 
• Practising according to the standards of the profession.  Under NBAREA’s by-laws, the standards accepted and enforced by NBAREA are 
• The Canadian Uniform Standards for Professional Appraisal Practice (CUSPAP), or
• The Uniform Standards for Professional Appraisal Practice (USPAP)
• Staying informed about changes to laws, regulations, standards and guidelines, updating your contact information with NBAREA, accessing NBAREA’s website, and reading all communications, including emails and newsletters, from NBAREA and your professional Association (AIC or CNAREA).
• Maintaining professional liability insurance of at least $2,000,000.
• Ensuring that your knowledge and skills remain up to date by complying with all continuing professional development requirements.
• Communicating professionally and respectfully with clients, colleagues, employers, the public, and NBAREA staff and volunteers.
• Cooperating with NBAREA in any investigation conducted under the Act.