Minimum Pricing

[Pamela359]

My smart pricing suggested minimum price has swung wildly over 24hrs from £60 to £78 and then to £45. What are the influences of it? Should I just ignore something that is so inconsistent? 

[Steve143]

Hello @Pamela359,

Just for clarity, is it the smart pricing feature that you must manually enable in the "Pricing" section of your listing or is it the price tips that you see on your calendar page?

If it's the smart pricing feature you can set a minimum and a maximum price and the system will price your listing between those values. The post below describes the operation of smart pricing.

How-Smart-Pricing-Works

If it's the price tips that you see on your calendar page then you can check the "This price tip is based on" explanation and click on "More about price tips". In this case you decide what the minimum acceptable price is for you and just ignore the tip if it's less than that.

Steve.

[Pamela359]

Thanks Steve. It is the minimum price bracket within the smart pricing system. I've applied smart pricing across my calendar and it still shows me the red dot 'low probability of booking' symbol on many of the days. Surely if there's a low probabilty of booking then smart pricing should lower the price and thus remove that dot?

[Steve143]

Hello @Pamela359,

I don't use smart pricing so can't speak from direct experience.

On the dates with a red dot, is the price set at or near your minimum? If so, it could be that your minimum is still above the average for those dates in your area. To see if that's the case you could temporarily lower the the price manually for one date to see if the dot disappears. If it does then you know it was there due to the price.

You could keep that price and set other dates likewise if you're happy to rent at that price. Otherwiseset it back to a price that you're happy to rent at. Airbnb often tries to set us on a race to the bottom pricewise. I've never accepted the price tips or negotiated a lower rate with guests. I'm happy with the price and occupancy and don't want bargain hunter guests.

If the price for those dates isn't at or near your minimum you could try setting it to your minimum if you're happy to rent them at that price.

Steve.