In Nashville’s bustling real estate scene, Kayla Palmer—a REALTOR® at MW Real Estate Co.—emerges as a steadfast advocate for her clients. Originating from Mississippi, she’s woven herself into Nashville’s fabric over the last five years, leveraging her background in people management and process improvement.
Passionate about inclusivity, Palmer highlights the evolving role that women play in homeownership, celebrating the rise of female-headed households despite challenges, particularly for women of color.
Here, Palmer shares her insights on the evolving landscape of women’s involvement in real estate.
Please share your perspective on the evolving landscape of women’s involvement in real estate, particularly in light of the increasing number of single women purchasing property over the past four decades.
What once was a male-dominated territory is now not only being leveled out, but women are taking the lead. By staying informed, we can meet clients where they are, with the information and support they need. At the rate we’re going, I hope we continue to see women investing in property whether they’re with a partner or not.
In what ways is legislation intended to benefit single women impacting the industry and the experiences of your clients?
We can all agree to say “thank you” to those who advocated for women and implemented Section 109 of the Housing and Community Development Act of 1974. Can you even imagine what this conversation would look like without it? And while there are still many areas where we can improve, I feel very fortunate to work in an industry during a time that allows my female clients to have the opportunities they deserve and worked hard for.
As someone deeply involved in assisting first-time homebuyers, what unique challenges do single women face in the home-buying process?
For some, the pay gap is a big challenge single women face in the process of becoming a homeowner. When applying for financing, a single applicant may have a weaker credit history than if applying with a partner. Married couples, or those purchasing with a partner or spouse, may also come with the advantage of a dual income. This can lead to more buying power. I say this not to discourage anyone from trying to see where they land. Emotionally, this process takes a village of people who will advocate for you.
How is the growing trend of female-headed households reshaping the real estate market, and what opportunities and challenges does it present?
The upward trend of female-headed households is reshaping the real estate market and shaping the path for future generations. According to data related to discrimination on sex and familial status from the U.S. Department of Housing and Urban Development, the largest number of fair housing complaints are filed by single women. Now that women have equal opportunity in the housing market, lack of inventory is another challenge. Many homeowners are still “locked in” to low interest rates in the 3% – 4% range, meaning many homeowners aren’t willing to move. If we see a decrease in interest rates, that will naturally bring more inventory to choose from.
How do women, especially women of color, contribute to diversifying perceptions of homeownership, and what steps can be taken to further promote inclusivity?
They’re visible role models within their communities. As a leader in this industry, it’s important to me to raise them up and tell their stories. That’s how legacies are created. Some communities have housing programs and grants that may be offered but are harder to find. Making these opportunities readily available to drive visibility is something that needs to be talked about more.
For more information, please visit https://mwrealestateco.com/kayla-palmer.
