Brookfield Real Estate Services Inc. is a provider of services to residential real estate brokers and REALTORS. As of December 31, 2011, the Company network consisted of independently owned and operated franchisees operating under 389 franchise agreements, operating from 654 locations, serviced by 15,061 REALTORS and providing services under the Royal LePage, Johnston & Daniel and Via Capitale brand names . On January 1, 2011, the Company acquired 21 new Royal LePage franchise agreements from Brookfield Real Estate Services Manager Ltd. On January 1, 2012, franchise agreements representing 25 locations, serviced by approximately 217 agents operating under the Royal LePage and Via Capitale brands were purchased by the Company. As of December 31, 2011, the Company�s network also consisted of operations, with approximately 72% of the Company�s franchisees operating with lesser than 50 REALTORS.