Advice needed about pricing

[Erin6539]

I am new to AirBnB. My first guest is currently checked in. 
my first 2-3 months booked up fast with Smart Pricing but my Superhost and friends think I’m leaving money on the table. I went ahead and INCREASED my minimum dollar amount within the Smart Pricing tool a couple days ago. No new bookings have happened. I’m curious if it’s because it’s now too high or if bookings that far out are less common and the guests primarily book 60-90 day advance.

I am near Monterey CA 93940. My listing is in Del Rey Oaks. It’s an entire house, 2 bedroom, 1 bathroom, sleeps 4, pet friendly.

Is there a tool of some kind or an experienced person who can help guide me on where my mid week and weekend prices should likely fall between? Would anyone have a moment to help me? Please.

[Jenny]

Hi @Erin6539 

Welcome to the Community Center! 

Did you manage to find any information about this from anywhere else?

Jenny

[Lorna170]

@Erin6539  I am not a fan of the smart pricing tool, so take this advice only if you agree.

As you have been on AirBnB for a few months, your listing is no longer being promoted, and your initial discounts have lapsed.  Hang in there.  It will take some time before you see that your listing is being viewed and the bookings become more consistent

I would get off smart pricing.  I would establish a rate that you are happy with as your potential profit.  I think that a property has a value.  That value does not change except if you wish to charge more for certain events or seasons.  Smart pricing has no idea what events are in your area -- just a measure of who else has booked already.  Think carefully before offering (desperation) discounts.  They often attract bottom feeders.  A surprising fact -- high rates attract better customers and often more bookings.

Best wishes.

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