Leading with purpose: Teresa Palacios Smith on inclusion, opportunity and shaping the future of housing

As part of HousingWire’s Editor’s Choice awards spotlight series, we’re spotlighting past Women of Influence honorees whose careers, leadership and insights continue to influence the industry. This series offers a closer look at the experiences and decisions that have shaped their paths.

Teresa Palacios Smith, chief inclusion and engagement officer at HomeServices of America and HSF Affiliates, shares how taking risks, embracing leadership opportunities and advocating for greater access and inclusion helped shape her career in housing.

Smith was recognized as a 2025 Woman of Influence for her leadership in advancing inclusive practices across the housing industry and expanding programs focused on housing equity, fair housing and community engagement.

The Woman of Influence recognizes women leaders making a meaningful impact across mortgage, real estate and homebuilding. Nominations for the 2026 Women of Influence awards are open now through May 31.

HousingWire: What are you most focused on right now?

Teresa Palacios Smith: I’m focused on ensuring that inclusion is not treated as a standalone initiative but as a business strategy that is embedded into how we operate every day. In a shifting market, this means equipping leaders and agents with the tools to serve a broader, more diverse consumer base while maintaining the highest standards of professionalism and fair housing compliance. It is about expanding opportunity while strengthening performance.

HW: What’s one leadership lesson you’ve learned that more people in this industry should understand?

Palacios Smith: Leadership is not about titles; it is about influence, accountability and consistency. One of the most important lessons I have learned is that your actions will always speak louder than your words. People are paying attention to what you prioritize, what you invest in and how you show up every day.

It is easy to talk about values, but real leadership is demonstrated through consistent action, especially when it is not easy. Showing up, staying committed and leading with integrity even in challenging moments is what builds credibility over time.

The most effective leaders do not just set expectations, they model them. They create environments where people feel seen, supported and empowered to succeed because those behaviors are reflected in how they lead.

That is where trust is built, and ultimately, where real performance and innovation come from.

HW: Looking back, what experiences most prepared you for the leadership role you’re in today?

Palacios Smith: My life experiences prepared me just as much as my professional ones. Growing up as the daughter of immigrant parents, and often serving as the translator and advocate for my family, taught me how to navigate systems that were not always designed for everyone, and how to find solutions even when there was not a clear road map.

Throughout my career, I was often the only Latina in the room. I chose to see that not as a limitation but as a responsibility to bring perspective, build bridges and help create space for others. Those moments strengthened my confidence and shaped how I lead today.

Professionally, from selling homes and guiding buyers to working in relocation, international services and helping families settle into new communities, I have seen firsthand the full housing journey. That experience, along with working with U.S. Department of Housing and Urban Development buyers and individuals navigating financial and systemic barriers to homeownership, gave me a deeper understanding of access and opportunity.

Together, these experiences shaped how I lead, with perspective, purpose and a responsibility to open doors for those coming next.

HW: What’s one decision that changed the trajectory of your career?

Palacios Smith: Choosing to step out of my comfort zone and invest in my growth before I felt fully ready. At the time, I had built a strong foundation in real estate, but I knew that if I wanted to lead at a higher level, I needed to develop skills and experiences beyond my day-to-day role.

I made the intentional decision to volunteer and get involved outside of my core responsibilities, taking on leadership opportunities that stretched me and helped me build the confidence, relationships and perspective I would later need in the corporate space. That meant raising my hand for things that didn’t come with a title or a guarantee but that ultimately opened doors I couldn’t yet see.

At the same time, I chose to lean into diversity, equity and inclusion work before it was widely understood or embraced in our industry. It wasn’t the obvious path, and there were moments of uncertainty, but I recognized that the future of housing would require us to think differently about leadership, access and opportunity.

Looking back, those decisions — to take risks, to grow beyond my role and to align my work with purpose — completely changed the trajectory of my career.

HW: What advice would you give to the next generation of women working toward senior leadership roles in housing?

Palacios Smith: Don’t wait until you feel fully ready. Step into opportunities before you have all the answers. Confidence is built through action, not perfection.

Be intentional about building relationships and finding mentors who will both support and challenge you. And if those opportunities are not available within your organization, look outside of it. Volunteering in industry organizations can help you develop leadership skills, build your network and open doors you may not even see yet.