Meet the exchange practice behind IES and RES, and learn how the team coordinates property transactions with owners and their advisors.
Independent Exchange Services, Inc. was established in 1980.
1031 Strategies & Services Group brings together Independent Exchange Services, Inc. and Reverse Exchange Services, Inc. The practice focuses on exchange administration and the coordination needed around a property's sale, purchase, or improvement.
IES acts as Qualified Intermediary, preparing exchange agreements and assignments and coordinating proceeds. RES handles reverse-exchange titleholding arrangements when property needs to be acquired before the ordinary sale-first sequence can be completed.
Whether the transaction is straightforward or involves more complicated ownership, financing, or construction, the work starts with the actual contracts, dates, and people involved. Your tax advisor and attorney remain responsible for tax and legal conclusions.
Section 1031 transactions depend on timing, documentation, funds flow, and coordination among multiple professionals. The firm's role is to help investors and their advisors identify the correct exchange structure, keep exchange proceeds inside the exchange process, monitor key deadlines, and communicate clearly with escrow, title, lending, brokerage, tax, and legal teams.
The group works with real estate investors, business owners, trustees, family offices, agricultural property owners, commercial property owners, and professional advisors who need focused Section 1031 support. Engagements may involve a straightforward delayed exchange, a replacement-property-first reverse exchange, a construction or improvement exchange, or a transaction that requires careful review because ownership, financing, or closing sequence is complex.
The firm supports several core Section 1031 transaction categories.
| Simultaneous Tax Deferred Exchange | In this transaction, the closing of both Phase I and Phase II occur simultaneously. Because timing, lenders, locations, and document pressure can complicate the transaction, simultaneous exchanges are rarely used. Even when a client expects a simultaneous closing, using a qualified intermediary can provide a useful safety net. |
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| Delayed Tax Deferred Exchange | The sale of the relinquished property happens first, and the closing of the replacement property is delayed to a later date. This transaction was sanctioned by the 1984 Tax Act, which imposed requirements for the Qualified Intermediary, the 45-day Identification Period, and the 180-day Exchange Period. |
| Reverse Exchange | The chronological order is reversed. The replacement property is acquired first, then the relinquished property is sold. Reverse Exchange Services, Inc. provides the Exchange Accommodation Titleholder structure that can hold title during the parking period. |
Professional, pragmatic, deal-specific solutions.
IES acts as an independent, third-party corporate Qualified Intermediary for investors selling relinquished property and reinvesting through delayed, simultaneous, improvement, or related exchange structures.
Read about IES
RES structures reverse and improvement exchanges when replacement property, construction timing, financing, or entity planning requires property to be parked before the ordinary sale-first sequence can be completed.
Read about RES
Independent Exchange Services, Inc. focuses entirely on Section 1031 exchanges, giving clients a specialized team rather than a general transaction desk.
Meet the staffMore than 100 years of combined exchange experience.
Chairman, CES, CPA inactive, MBA Tax, MS Accounting
Ralph has been advising clients on Section 1031 matters since 1978 and was a founder of Independent Exchange Services, Inc. in 1980. He has practical experience in financial management, accounting, income tax matters, investment banking, real estate finance, tax deferred exchanges, and organizational development.
Ralph is a past President and current Director of the Federation of Exchange Accommodators, as well as the President and Co-Founder of Reverse Exchange Services, Inc.
Principal, CES
Billie Sue has extensive operational, management, commercial real estate, investment, farming, and philanthropic experience. In 2007, she designed a Qualified Intermediary Department within Mission Bank in Bakersfield, California.
She has facilitated all types and variations of 1031 Exchanges, including reverse construction exchanges.
President, CES
Ian has coordinated and facilitated Section 1031 exchanges for more than two decades and helps lead a group facilitating more than $300 million in exchange volume annually.
He is a Certified Exchange Specialist and has served in leadership roles with the Federation of Exchange Accommodators and the Certified Exchange Specialist Council.
Principal
Kris has excelled in administrative roles for more than 20 years with the Group and leads administrative efforts to provide clients with strong process experience in completing 1031 exchanges.
Vice President and Comptroller, CPA
Frank has an extensive career in financial management, including more than 20 years as controller of a division of the Clorox corporation. He manages financial accountability of all 1031 client funds.
Principal
Jeff has been an entrepreneur for more than 20 years with experience starting, managing, and operating more than 10 businesses. He brings business operations, data security, and information compliance experience to the exchange process.
