IFM Investments Limited is a real estate services provider with the network of real estate sales offices in People�s Republic of China. The Company is the exclusive franchisor in People�s Republic of China for the CENTURY 21 brand As of December 31, 2012, its CENTURY 21 China network covered 27 cities. The Company operates under four business lines: Company-owned brokerage services, Primary and commercial services, mortgage management services and franchise services. As of December 31, 2012, the Company had approximately 321 Company-owned sales offices, representing approximately 34.7% of its CENTURY 21 China network. Its Company-owned brokerage services business owns and operates regional sub-franchisors and sales offices in the CENTURY 21 China network. The Company�s mortgage management services business provides mortgage advisory services to home buyers and home owners and interim guarantee services to commercial banks.