Pricing Tips

[Jude7]

About a year ago I was updating my calendar, and was given a pricing tip for each date, which was not the same feature as Smart Pricing.  Smart Pricing is an option to allow Airbnb to determine the price for each night, with the ability to change that price in response to demand.  As many of you have discovered, not so smart.  

However, I found pricing tips to be very helpful and responsive to special events  in my area.  As a result of the tips I was given, my prices were higher than I had originally planned to list, and I was just about fully booked so obviously they worked.

I'm looking to adjust my calendar pricing for next summer and it seems as if that feature has disappeared.  Has anyone been offered pricing tips when updating their calendar, and if so, how do you find that feature?

Thank you!

Jude

[Paula]

Hi @Jude7, it's great to see you again in our Community 😊

I was browsing the articles in the Airbnb Help Centre and couldn't find one specifically about this feature. However, I did come across an article about the 👉Similar Listing feature, which allows you to see the prices of comparable listings to help you set a competitive price.

I'm also reaching out to our wonderful Hosts @Joan2709 @Dawn241 and @Patricia2526 to see if they have additional information on this.

 All the best,

[Joan2709]

Hi @Jude7 

Sadly, this is another feature that Airbnb removed in the Summer 2023 Release. Hosts can use the "compare similar listings" feature, but it is not the same as pricing tips. 

The only option for many Hosts is to either make an educated guess, or use a Dynamic Pricing Software (PriceLabs, Wheelhouse, Beyond Pricing, etc.). However, I believe that means you are required to pay the entire guest service fee and will have to decide if you want to subsequently raise your prices to compensate for paying the full fee. Hosts who use a dynamic pricing software can comment on that. 

[Patricia2526]

Hello @Jude7  and thanks @Paula  for tagging.

Here’s how to find “Price Preview Tool”

1. Select any number of nights on your calendar.
2. Below your nightly price, you’ll find a “Guest total” button displaying the total price a guest would pay for that reservation.
3. Tap or click that button to pull up a price breakdown, which lists your nightly price, fees, any discounts or promotions, taxes, and your earnings.

.

Then tap on the guest total and it will show you the price breakdown and your potential earnings.

Tap the compare similar listings

1. Select a date or date range on your calendar.
2. Tap or click on your nightly price. A button directly below the price shows a map icon and the words “compare similar listings.”
3. Tap or click that button to pull up a map of average prices for listings similar to yours. On the map, you can opt to show the average prices of booked or unbooked listings in your area.

and it will show you the booked and unbooked listings in your area with their prices. You can then decide if you need to adjust your rate for those dates or add a special offer to be more competitive. I use this feature just to ensure my pricing is competitive to attract last minute bookings.

Hope this helps. Happy hosting 

[Dawn241]

I agree the smart pricing doesn’t work right.  I have a base rate of $149 per night, 2 night minimum, no cleaning fee, same price up to 4 guests. 

In Bisbee AZ we have an events calendar that basically repeats itself every year. I make Event weekends $175 per night, holidays $199 per night, day before and after a holiday $175, weekly discount 25%, monthly discount 50% discount, and I do a last minute 20% promotion discount for the upcoming weekend if I’m not already booked. 

Summers for us are off season in AZ. If you don’t know your local events that far in advance, you can restrict your booking window to 3 months or 6 months in advance so people aren’t booking at regular price for what turns out to be a major event weekend.