Want to take the stress and the guess out of pricing your Airbnb property?
Automated Demand Based Pricing Services Can Do that for You
Let’s face it, many Airbnb hosts are at a loss when it comes to pricing.
Common mistakes include pricing too high or too low or not taking into account multiple demand factors.
Too many hosts set prices based on gut feel and a limited view of the market.
Some hosts account for factors like day of the week or seasonality.
The Herculean best practice would include daily scans of a ton of factors like what’s happening with hotel prices in the market, special events, and other items specific to your listing like orphaned days.
But honestly who has the bandwidth to find and crunch all these numbers regularly?
An automated pricing service constantly combs the web for dozens of factors that may impact your rental rates.
It then runs that data through a pricing engine to predict demand on a given day and will generate pricing recommendations specific to your property.
Some systems, like Everbooked, can sync with Airbnb to automatically update your listing with the latest prices. Sounds great!
And while you get algorithmically-generated pricing and daily updates to your listing, some services allow you to override the recommendations at any time. Nice!
More Bookings at the Right Price Means More Money in Your Pocket
A big data based automated pricing service makes great sense financially too.
A typical host should expect more bookings for their space and a significant boost to overall revenues. Initial estimates and tests are showing a possible 40% increase in revenue.
So why not put the power of demand based pricing to work for you so you can get back to your life and to creating an even better experience for your guests?