{"id":73672,"date":"2022-01-13T08:00:59","date_gmt":"2022-01-13T16:00:59","guid":{"rendered":"https:\/\/www.redfin.com\/news\/?p=73672"},"modified":"2022-01-12T15:52:11","modified_gmt":"2022-01-12T23:52:11","slug":"redfin-employees-donate-to-redfin-rise","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/redfin-employees-donate-to-redfin-rise\/","title":{"rendered":"Redfin Employees Donate More Than $1.5 Million to Nonprofits Supporting Underserved Homebuyers"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">In August 2020, we launched an initiative called <\/span><a href=\"https:\/\/www.redfin.com\/rise\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Redfin Rise<\/span><\/a><span style=\"font-weight: 400;\"> to build a path to homeownership for working-class families. It\u2019s an extension of our mission to redefine real estate in the consumer\u2019s favor, broadening the scope of who has a fair shot at homeownership. Through Redfin Rise, Redfin employees have donated a total of $1,524,819 to four housing nonprofits that are helping people buy their first home or stay in their homes. In its first year, Redfin Rise funds have contributed to the construction of 32 new affordable homes in King County, Washington; helped facilitate homeownership counseling for over 2,200 low-income families across Chicago and Philadelphia; and provided $155,000 in down payment assistance grants to 47 first-time homebuyers in Chicago. We\u2019re just getting started, and this year we\u2019re making it even easier for our employees to support Redfin Rise by offering the option to have donations automatically deducted from their paychecks.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">These nonprofits spend time helping people understand how to improve their credit score, access down payment assistance, save money, and work with real estate agents and lenders to buy their first homes. Some of them also build new affordable housing or rehab existing affordable homes. Many of the people these nonprofits serve are the first in their family to ever own a home and some are formerly unhoused.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In addition to the impact Redfin\u2019s dollars are making through our partners\u2019 work, we launched a first-time homebuyer guide in November 2020 to help educate people on how to make their homeownership dream a reality. The guide is available in both <\/span><a href=\"https:\/\/www.redfin.com\/guides\/first-time-home-buyer-guide\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">English<\/span><\/a><span style=\"font-weight: 400;\"> and <\/span><a href=\"https:\/\/www.redfin.com\/guides\/comprador-de-vivienda-por-primera-vez\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Spanish<\/span><\/a><span style=\"font-weight: 400;\">, and it includes information about down payment assistance programs across the U.S. If you or someone you know is planning to purchase their first home, it\u2019s a great resource chock-full of everything you need to know about the homebuying process.<\/span><\/p>\n<h3><b>It Takes a Village: Choosing Our Redfin Rise Beneficiaries<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Before I introduce you to our incredible partners, I should explain how we chose them. In August 2020, we asked Redfin employees to nominate housing organizations to be beneficiaries of Redfin Rise.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">We were looking for organizations that make an impact. Anyone can spend money; these programs needed to increase the rate of homeownership for the people they serve. We also wanted partners that serve buyers who have historically struggled to buy homes\u2014namely Black, Latinx, veteran, and working-class people. And, we didn\u2019t want all of our partners to be clustered in one region.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Throughout the fall of 2020, a committee of Redfin employees narrowed a list of 26 nominees down to five finalists. After conducting interviews with those finalists, we selected three organizations to join us as our first-ever Redfin Rise partners.<\/span><\/p>\n<h3><b>Introducing Our Inaugural Partners: Clarifi, Homestead Community Land Trust, and NHS Chicago<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">With donations from Redfin employees, our initial three Redfin Rise partners have made big strides in helping more Americans achieve their dreams of homeownership<\/span><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/www.clarifi.org\/\" target=\"_blank\" rel=\"noopener\"><b>Clarifi<\/b><\/a><b>\u00a0<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Serving Greater Philadelphia, Clarifi provides housing and financial counseling to first-time buyers and homeowners facing foreclosure and eviction. Ninety percent of Clarifi\u2019s clients earn 80% or less of area median income and 70% identify as people of color.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Over the past year, Clarifi has used Redfin&#8217;s donations to support pre-purchase homeownership counseling for 783 families. In 2021, 13% (105) of those families went on to purchase homes. The agency also counseled 390 families at risk for housing delinquency.<\/span><\/p>\n<p><a href=\"https:\/\/www.homesteadclt.org\/\" target=\"_blank\" rel=\"noopener\"><b>Homestead Community Land Trust<\/b><\/a><\/p>\n<p><span style=\"font-weight: 400;\">Homestead makes homeownership possible for low-income King County, Washington families. The trust makes homes permanently affordable through agreements with members and collective ownership of land. Members earn less than 80% of area median income and 65% are minority households.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In 2021, Redfin&#8217;s donations to Homestead contributed to t<\/span><span style=\"font-weight: 400;\">he construction of 22 new affordable homes in Renton and Seattle and to supporting 22 first-time homebuyers in purchasing homes. Homestead also used Redfin funds to support the development of 10 new homes in Seattle&#8217;s Central <\/span><span style=\"font-weight: 400;\">District\u2014which are actively under construction\u2014and it completed pre-development on two new condo projects in Seattle&#8217;s Phinney Ridge neighborhood as well as 11 new homes in Tukwila, WA.<\/span><\/p>\n<p><a href=\"https:\/\/nhschicago.org\/\" target=\"_blank\" rel=\"noopener\"><b>NHS Chicago<\/b><\/a><b>\u00a0<\/b><\/p>\n<p><span style=\"font-weight: 400;\">NHS offers a wide range of homeownership programs to Chicago residents, including educational workshops, counseling, loans, and foreclosure prevention. Of NHS\u2019s first-time homebuyers, almost 60% are women, and 93% identify as Black or Latinx.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In 2021, NHS put Redfin&#8217;s dollars to work by providing $155,000 in down payment assistance grants to 47 first-time homebuyers. Redfin funds also contributed to NHS&#8217;s programs that provide home accessibility repairs for seniors and people with disabilities as well as its homebuyer education classes that reached 1,054 people last year.<\/span><\/p>\n<h3><b>Next: New Partners, International Reach\u00a0<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">In 2022, we will choose three new organizations to join Clarifi, Homestead Community Land Trust, and NHS Chicago in Redfin Rise. In fact, we\u2019ve already selected the first one: <\/span><a href=\"https:\/\/newstorycharity.org\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">New Story<\/span><\/a><span style=\"font-weight: 400;\">, a nonprofit tackling global homelessness.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">New Story will expand the impact of Redfin Rise beyond the U.S. through its work to house people in Bolivia, El Salvador, Haiti, and Mexico. With a goal to house 1 million people by 2030, New Story builds communities of affordable 3D printed homes and makes them accessible with a micro-mortgage model to build equity and ownership.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Later this year, we plan to add two more nonprofits to the program: one serving homebuyers in California and the other in Texas.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In 2022, we will also work with our partners to find volunteer opportunities for Redfin employees and invite our customers to support these groups too.<\/span><\/p>\n<h3><b>Thank You, Anne Jones!<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">While many Redfin employees joined forces to bring this initiative to life, I want to give a special shout-out to Redfin\u2019s director of product marketing Anne Jones who spearheaded the creation of Redfin Rise. Starting from scratch, she led a huge effort to design a rigorous selection process that introduced us to our amazing partners.<\/span><\/p>\n<h3><b>Everyone Deserves a Fair Shot at Owning a Home<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">I\u2019m proud of the company for coming together to support Redfin Rise. The U.S. continues to grapple with the impacts of racist housing policies like redlining and racial covenants, which despite having been illegal for decades, <\/span><a href=\"https:\/\/www.redfin.com\/news\/redlining-real-estate-racial-wealth-gap\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">still contribute<\/span><\/a><span style=\"font-weight: 400;\"> to homeownership and wealth gaps between Black and white Americans. It\u2019s on all of us in the real estate industry to do our part in helping to level the playing field for people who have traditionally been shut out of homeownership. Through Redfin Rise, I think we\u2019ll make a difference for many families.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">I will continue to share updates on the impact these organizations make and the people they serve\u2014stay tuned for more in the future. In the meantime, to learn more about our partners or to make a donation to support their work, visit <\/span><a href=\"https:\/\/www.redfin.com\/rise\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">https:\/\/www.redfin.com\/rise<\/span><\/a><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In August 2020, we launched an initiative called Redfin Rise to build a path to homeownership for working-class families. It\u2019s an extension of our mission to redefine real estate in the consumer\u2019s favor, broadening the scope of who has a fair shot at homeownership. Through Redfin Rise, Redfin employees have donated a total of $1,524,819 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