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.