should i use smart pricing?

[Jean92]

Should i use smart pricing? Is anyone using it? what do you thingk about it?

[Ann72]

But I don't understand why you would set a minimum price lower than you would want to get?  

My minimum price is the price I want to get.  Smart Pricing keeps that price in the off-season, then keeps going up in the high season.

I've gotten more summer bookings in February than ever before, all at higher prices than ever before.  That seems smart to me.  But I'm not afraid of money.

[Sangeeta-and-Brian0]

why my nightly rates are calculate significantly low when booking is for 7 days or more?

it is concerning and would like to resolve ASAP

please help

[Joe688]

I understand setting the minimum to an amount you're happy with, that makes total sense. But the minimum I would accept in February is far far less than the minimum I'd accept in peak July Summer.

I really would expect the Smart pricing feature, to have an option to select a different minimum per month, (is there a way?) But I guess that is the point in it being smart, you shouldn't need to. In which case, it really isn't that smart as it sets my winter price at a reasonable £80 ... but my peak summer at £89!

For now, we are turning it off during the summer - and potentially forever.

[Mary-and-Nes0]

That is exactly what smart pricing needs!  a Minimum per date.

[Adiel0]

It works in areas or towns where the system has significant quantities of data from comparable properties to go on, but not otherwise. It's also very erratic: last night I was surprised to find that one of my properties was on for 124 pounds a night with smart pricing; I thought maybe it was because summer is here and prices have gone up, but then I woke up this morning to find it had dropped to 49 pounds for every available night (my minimum) and when I checked, the system recommended that I drop the price to 30 a night, which has to be deal of the century for a 3-bed, 3-bath apartment. So if you use it, you need to keep checking it, as otherwise you'll get some nastily low priced bookings.

[Ian394]

I just duplicated one of my listings and before I changed my 'new' listing I tried Airbnb smart pricing suggestions on each listing for the same day.

The prices were £20 higher on the 'new' listing with no reviews while the older listing with 5* reviews was getting suggestions that were below that of a mobile home.

Mine is a detached house made of stone with a fully equipped kitchen and central heating.

I have also found that the only people to give me 4* reviews have been the people who paid the least and that during non busy times lowering the price hardly gets any more rentals.

I think it is best to learn about pricing by looking at other similar listings and how much they get rentals for a particular price.

I now realise that I am the best person to judge my pricing.

[Adie0]

I've had smart pricing on, but never once has it charged a guest more than my minimum- and Im booked weeks out with 20 plus nights booked per month consistently for quite some time now- it's busy! 

I am reading of people changing pricing for far-off bookings? then adjusting them as it gets closer? I hadn't thought about doing this- I do now think I'll look into some weekends when things are happening and adjust a bit going forward- I figured with so many bookings airbnb might have at some point charged more than my minimum, but that's yet to happen. 

 In my case smart pricing seems pointless (my minimum is more than their suggested minimum which is absolutely ridiculous and not worth my time). 

[Fiona107]

I agree I have had smart pricing on since January and they only ever use my minimum price and I keep putting the minimum up and still get the bookings.  I don't trust their smart pricing software here in the uk it does not take into account public holidays and I live in a tourist area.  Also my minimum is far less than my competitors so I think I am loosing out so I am switching it off now. 

[Pete28]

Yeah - it basically prices everything at your lowest set price. No matter what is happening.

Example, New Year's Eve - my min is $80, a dorm room up the hill is going at $120. What did auto price do ?! Yes - $80 for the night. 

You can answer this question by looking at the fact that 3rd parties are praising pricing solutions on top of Airbnb. If the feature worked, no one would pay ever booked etc a % for doing the same job.

the question should be - when will Airbnb implement accurate auto pricing or buy a 3rd party service that can do the job properly...

[John-Gately0]

So far same for me. Every booking is my minimum price, weekends, holidays, etc. There is something definitely wrong with the way smart pricing works. Maybe it was meant to be smart for guests and stupid for hosts. Also the suggested minimum price for my property wouldn’t even pay my carrying costs.