Smart pricing?

[Sheryl194]

I wondered what most hosts do as far as the "smart pricing" feature.  It's difficult for me to understand how they determine the price,  and is it the best way to price since they have all the locations..  Let me know what you think. Thanks. 

[Mike-And-Jane0]

@Sheryl194 if you do use it limit the min/max price range or it will do stupid things like go for max until 1-2 months out then drop to the min.  If max is too high you won't get bookings and if min is too low you will take loss making bookings.

[Sheryl194]

Thanks for the input.  I realized that I was not comfortable with their price range.  I will definitely adjust.  

[Joan2709]

@Sheryl194 

I would suggest using a dynamic pricing software like PriceLabs (there are others as well). These are far superior to Airbnb's Smart Pricing and are reasonablly priced ($20/month on PriceLabs - one listing). We do not use Smart Pricing as it's not very "smart". Right now Airbnb is having some bugs with it as well.

[Sheryl194]

Thanks for the response.  It feels like my instincts were right.  I will adjust the pricing to where I think is more reasonable.  It's good to have the input.  

[Elisa]

Hi @Sheryl194 @ 😊, 

Thank you for asking this question in the Community Center!

Have you found the information you were looking for in the meantime?

What do you think of Joan and Mike and Jane's suggestion?

Let us know if you need any more help.

Warm regards 🌻,

[Sheryl194 · Accepted solution]

Thanks for the response.  It feels like my instincts were right.  I will adjust the pricing to where I think is more reasonable.  It's good to have the input.  🙂