Ligand exchange with 3-mercaptopropionic acid (MPA) has been successfully used to tune the emission intensity of trioctylphosphineoxide/dodecylamine-capped CdSe quantum clots. Addition of 3-mercaptopropionic acid (MPA) to CdSe quantum dot suspension enhances the deep trap emission with concurrent quenching of the band edge emission. The smaller sized quantum dots, because of larger surface/volume ratio, create a brighter trap emission and are more easily tuned. An important observation is that the deep trap emission which is minimal after synthesis is brightened to have a quantum yield of 1-5% and can be tuned based on the concentration of MPA in solution with the quantum dots. Photoluminescence decay and transient absorption measurements reveal the role of surface bound MPA in altering the photophysical properties of CdSe quantum clots.