The Real Estate Foundation is directed by a Board of Governors consisting of five appointed members. The British Columbia Real Estate Association, the Real Estate Council of British Columbia, and the Real Estate Institute of British Columbia each appoint one member. The Minister of Finance (BC Government) appoints two members. 

While a Governor term is three years, they are able to be appointed for two consecutive terms, serving up to six years in a row. The chairperson is elected at the Foundation's annual meeting in March and serves for one year. 

As of November 2, 2011 the Foundation Governors are:

• Eileen Smith (Chair) - appointed by the Real Estate Council of BC in 2008
  
• Kelly Lerigny (Vice-Chair) - appointed by the BC Real Estate Association in 2010
  
• Harpreet Bhatti - appointed by the BC Minister of Finance in 2011
• Stephen Mullock - appointed by the Real Estate Institute of BC in 2006
  
• Charles Scott - appointed by the BC Minister of Finance in 2011