Self-assembled monolayers (SAMs) comprised from n-alkanethiols and terminal alkynes were subjected to solutions containing ferrocene-terminated thiol, thioacetate, and terminal alkyne. The rate and extent of chemical exchange were monitored by scanning tunneling microscopy (STM). In several cases, a rate constant for exchange could be obtained by fitting to a model for exchange In each case where this could be accomplished, a different rate model gave the best fit to the data, suggesting that the mechanism of exchange depended on either or both the original SAM and the incoming molecule In scenarios where the rate of exchange was slow, directed exchange was accomplished via STM tip-induced lithographic patterning (replacement lithography) The extent of exchange was independent of the incoming molecule. suggesting that tip-induced desorption was the limiting factor in this process