A qualified intermediary in a Pennsylvania 1031 exchange acts as a third party to facilitate the transaction. In order to complete a successful 1031 exchange, an investor must not take constructive receipt of the proceeds from the sale of the relinquished property.A Qualified Intermediary (QI) helps facilitate tax-deferred exchanges under IRS code. Learn more about QIs and the part they play in a 1031 Exchange. They must then select a qualified intermediary (QI), who will hold the proceeds from the sale of the relinquished property and facilitate the exchange process.