[IFC] Could not find selected element in linked model

When trying to select any component in the linked model this warning pops up.

The warning refers to the fact that the user has not selected a native Revit object. 
Go to the Naviate Bimfire tab and enable IFC Mode.

NOTE: In Revit 2024 or later the conversion has not been using legacy conversion it will also not work. Fix the problem by following these steps:

Disabled

Enabled