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 April 1, 2010 the Foundation Governors are:

• J.T. (Jack) Hall (Chair) - appointed by the Minister of Finance
• Eileen Smith (Vice-Chair) - appointed by the Real Estate Council of BC
• Stephen Mullock - appointed by the Real Estate Institute of BC
• Kelly Lerigny - appointed by the BC Real Estate Association
• Jack Wong - appointed by the Minister of Finance