Looking for advice for my listing and pricing.

[Billy337]

Looking for some advice on my listing and whether my pricing is par for the course in my area. New host with no reviews so looking for any insight into grasping that first booking, have had a few inquiries in the month I’ve been listed but no booking requests. Thanks in advance 

🏡 View on AirbnbHome in Cape May · ★New · 2 bedrooms · 5 beds · 1.5 bathrooms

[Rebecca]

Hello @Billy337 👋

Your listing is beautiful and I love the front door colour. I hope you don't mind, I added a photo and a link to your listing to your post. I'm hoping that with easier access, more hosts will pop by and support you with constructive and helpful feedback. 😍

@Nash-Cottages-LLC0, @Dawn241 and @Bea2137 - what do you think?

Thanks so much in advance 😊

[Oksana127]

Hi @Billy337 ,

I understand you're seeking advice on your Airbnb listing in Cape May, New Jersey, particularly regarding pricing and strategies to secure your first booking. As a new host without reviews, it's crucial to optimize your listing to attract potential guests.

Pricing Analysis:

According to AirDNA, the average daily rate for short-term rentals in Cape May is approximately $522. However, this figure encompasses a wide range of property types and may be skewed by high-end listings. For a more accurate comparison, consider the following data:

House Rentals: There are about 220 house rentals in Cape May, with nightly prices starting at $90 before taxes and fees.

airbnb.com

Apartment Rentals: Approximately 80 apartment rentals are available, with nightly prices starting at $50 before taxes and fees.

airbnb.com

Given that you're a new host, setting a competitive price slightly below the local average can make your listing more appealing. Once you accumulate positive reviews, you can gradually adjust your pricing to align with the market.

Listing Optimization Tips:

High-Quality Photos: Ensure your listing features clear, well-lit photos that showcase the property's best features.

Detailed Description: Provide a comprehensive description highlighting unique aspects of your property and nearby attractions.

Flexible Policies: Consider offering flexible cancellation policies to reduce booking hesitation.

Promotions: Implement introductory discounts or special offers to entice initial bookings.

Guest Engagement: Respond promptly to inquiries to demonstrate reliability and build trust with potential guests.

By implementing these strategies, you can enhance your listing's appeal and increase the likelihood of securing your first booking.

[Dawn241]

I love the kitchen and baths especially the blue crab wallpaper.

What I don’t love is 6 guests, 5 beds, in 2 bedrooms. The industry standard is 2 people per bedroom and 2 in a common area like a living room sofa bed. The bunk bed up against a window is scary. If you insist on having a double bed and bunk beds in the same room then I would reverse them- put the bunk beds against the wall and the double bed against the window. With only one full bath I think 4 guests is more appropriate. 

as far as pricing, do a search to see what it costs for 6 guests, 5 beds, 2 bedrooms, 1.5 baths are going for in your area. And do a 20% introductory discount to get your first few guests and get some reviews under your belt. Of course pricing at a beach area  is going to be seasonal and should be adjusted at least quarterly. 

[Nash-Cottages-LLC0]

Thanks for the tag @Rebecca! 

@Billy337, @Dawn241 beat us to the punch with the suggestion of reversing the beds. If that room is meant to be more of a kids/teen area, maybe invest a little and and get some great builtins with 4 bunk beds with stairs in the middle or the fancier L shaped beds with the large bed underneath. An internet search for L shaped beds or bunk room might yield some creative ideas. Then, you could just call it a bunk room. Why not lean into the Cape May sailing vibe?

As far as pricing, again @Dawn241 gave yo some ideas. There is a price comparison on the calendar and I always look at that, especially when we're in a bit of a drought. It really does help set realistic expectations around pricing. I don't always go with the suggestion, but it does help inform our thinking around pricing. 

Happy hosting!

Judy

[Billy337]

@Nash-Cottages-LLC0 Thank you for the advice, I used the dynamic pricing tool associated with the calendar and tweaked my prices relative to what was recommended, I was way off on some dates, I will also adjust the beds and add some more beach decor in the bedrooms to make them more inviting. I appreciate your help and any further advice from this thread 

[Marie8425]

@Billy337 

As far as pricing using the Airbnb insight menu 

One of the things it will give you an idea is your booked value and you can see compared to Similar Listings.  tells you if you do need to do a review.

Also your Views graphs.  How many people clicked to look.

How many people converted and rented.

Maybe price maybe too many people.  Make sure you don't guess.

[Tingting20]

your listing looks great, i honest like the vibe. pricing wise you might want to check out this detailed report, it's specific about cape may. It has some great recommendations

airroi.com/report/world/united-states/new-jersey/cape-may