Pricing my unit

[Takisha2]

Hello I am new to Airbnb I am struggling with pricing and learning how to be successful any tips. Thank you

[Ross869]

Hello! What category is your place room, house, or other?  Next, an easy thing to do is switch to travel mode and search for listings that match yours and see what their pricing looks like. This will give you a rough idea of where you need to price to be competitive. Think about amenities you have that may stand out such as a pool, hot tub, sauna, king size bed, games, baby friendly etc., you don’t have to have those things but if you do they stand out. As a new host set your prices very reasonably (a little low) to start getting bookings, and get used to hosting. Do not short yourself, but get your feet wet. Allow for guests to see up to 3 months availability, once you start getting bookings try to get your occupancy between 70-85% for those three months. That means your pricing is good.  Another good thing to use  is the smart pricing tool, it calculates your place compared to others and adjusts prices based on events or vacation high points throughout the year, however you can manually adjust to lower prices to get bookings throughout the year. 

[Takisha2]

Thank you ! I appreciate your feedback  I heard Airbnb will price it to low but you gave me some good options.

[Takisha2]

Thank you so much for your feedback. Can you take a look at it again to see if I made changes correctly. Thank again for your feedback 

[Joan2709]

@Takisha2 

Price

Your price is better now…you may need to even go a bit lower. I would not go too low, as that attracts “inappropriate guests” who look for the “New” callout on listings, as they know the Hosts are most likely inexperienced.

Minimum Stay

I still think a 3night minimum stay is too long for a new listing (unless you have a very large property). Your property is listed for only 2 guests. You might find you won’t get bookings with a 3 night minimum. I would reduce that to 2 nights for a short period so as to get those first 3 guests and reviews. Then, change it to 3 nights. 5night minimums are usually only used by Hosts for larger properties (10+ guests), or during popular holidays (Thanksgiving/Christmas), or busy seasonal times.

Photos

I would change your cover photo to this one for now. Quality photos are key to your success. I would consider getting professional photos done with a photographer who has experience with short term rental properties. Cell phone photos are ok, but you need to be able to edit them (straight lines, improve/edit the brightness, contrast, etc.) If you aren't comfortable with that, ask some friends who are familiar with editing cell phone photos.

The living room photo appears “tilted”. If you could edit that to straighten it that would be advisable. I would keep living room photo on the listing, but not as the cover photo. I would delete or crop the photo that shows your address number (photo of front of house) for security reasons. If there is no outdoor space usable for guests, I would delete photos of outdoor space you currently have on the listing. I would still add more photos. You should consider adding a few of your own photos of popular attractions in the area.

Accuracy – Property Type

If this is a guest suite (within the footprint of the home, but with separate guest entrance) I would NOT list it as a “Guest House”. Your call on that. Most guest houses are detached ADU’s. It would be more like a “Guest Suite” or apartment. If there are any "shared" spaces (like the driveway), I would be sure to add that to the listing description under "Other Details to Note."

Hope this helps!

[Takisha2 · Accepted solution]

Thank you! For your help taking it all in. I changed my pricing, and title description waiting to get professional pictures done. 

[Joan2709]

Good job @Takisha2 !

I would add something to your title...are there any popular attractions nearby you can add to title? Can guests walk to them, or do they need a car? If no popular attractions nearby, I would try this as your title: 

"Newly Built Guest Suite with Private Entrance"

You get 50 characters for your title, so might as well use them 😊 See how that goes...you can always change it after 3-4 weeks if you don't get any bookings.

[Sarah5000]

I suggest you to do some research in your area to find out what others charge , then you can make a decision how much should you charge your guest. 

From my personal experience , I did research what other host charges in my area, then I list my price 20% less in order to attract more bookings.

But I also did research to find out if any festival around my place, then I will increase the price a little bit. 

Or you can use " Smart Price " in your listing , let Airbnb system to help you to price your place. 

[Paula]

Hi @Takisha2 Welcome to our Community 😊,

I've noticed that @Ross869 has provided some very useful tips (thanks for that, @Ross869 👏). Please let us know when you get a chance to read it, Takisha.

I am reaching out to some of our most experienced Hosts to ask for their

advice @Joan2709 @Lorna170 and @Nur785.

Good luck,

[Joan2709]

Hi @Takisha2 ! 

Welcome!

@Ross869 has some great suggestions. I took a look at your listing (its very cute!). Your price per night seems reasonable....if your listing wasn't new. You'll have to reduce that price to get those first 3 guests thru and get the reviews to appear on your listing, A few suggestions:

Shorten Your Minimum Stay

Your min stay is 5 nights? I would definitely reduce that to 2-3 nights (2nights or even 1night would be better). The goal for a new listing is to get those first 3 bookings so reviews will appear on your listing. You're missing out on getting those 1-2night bookings that you need to quickly get those 3 reviews. Many guests won't even see your listing in search results if you have a 5night min stay. Guests searching for 1-4 nights will never see your listing appear.

Use the Airbnb New Listing 20% Discount

Doesn't look like you are taking advantage of the Airbnb new listing 20% discount promotion. I would set your price to $95/night and use the 20% discount. You need to be prices lower than other listings in the area to get those 3 reviews quickly. Your calendar availability is too far out right now though. You don't want guests booking the 20% discount far in advance (or during Thanksgiving/Christmas. Change your calendar availability to "unavailable by default". Then unblock maybe 3-4 weeks only. Once you get those first 3 guests thru (with reviews), then turn OFF the 20% discount and open up your calendar,

Use the New Compare Prices Feature

Once you get those 1st three reviews, I would use the Compare Prices feature on the right side of your calendar and take a look at similar listings that are booked/not booked. 

Check Out the Competition Calendars

I would then keep an eye on the most popular similar listings and look at how booked they are on their calendars (search like a guest). If they are booked well, then be competitive with their prices.

Add More Photos to Your Listing

I suggest you add more photos to your listing. The average is 25-35 photos. 

Hope that helps and wishing you much success! Let us know how it goes! 😊