Smart-pricing seems low?

[Kimberley94]

I've been hosting in the same house as, the visiting guests. I moved this summer into another house that had, had a renter for many years, that the tenant had moved-out. So I am new too not being there, and am just using Smart-Pricing....which seems pretty low? Just wondering if anyone has some advice?
Kim ** and Denver;  Hosting

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[Title and content updated by Community Manager for relevancy]

[Rebecca]

Hey there @Kimberley94, 👋

Hope you're well. I had a little search on the Community Center and came back with a few threads. I thought I'd share these more recent ones with you: 

✨ Do you use Smart Pricing tool?

✨ Pricing

I hope these help! 

[Joan2709]

Hi @Kimberley94 

Some Hosts use Smart Pricing but find it takes awhile for it to become "Smart" for your listing and often-times prices too low. You can always manually change a price when using Smart pricing, and you will see the "broken arrow" icon appear on the date on the Calendar.

Some Hosts turn off smart pricing and just manually price everything or use a third-party dynamic pricing tool software.

[Mike-And-Jane0]

@Kimberley94 I suggest you set a min rate you are happy with and a max rate that is not too high. Then make sure you manually price for local events and high seasons. Two things tell me Smart Pricing is dumb : Firstly there is no indication of wether it is targeting max revenue or max profit. The former should drive lower pricing and 100% occupancy, the latter a higher price with lower occupancy. Secondly there is no ability to vary min/max prices by season.