Do you keep an eye on the competition?

[Quincy]

Hello everyone, 

Several of you have mentioned in the past keeping track of the prices charged by other Hosts in your area in order to better adjust yours. 

Whether it’s in terms of pricing, decoration, house rules or interesting extras to offer, there is a lot to learn from our competitors these days.

Do you keep an eye on your competition, and what do you look for when doing so?

I look forward to reading your anecdotes and experiences 🙂

Quincy  

[Quincy]

Hi @Huma0, were you in direct contact with the Hosts that you'd refer guests to if you couldn't accommodate them? 

[Huma0]

@Quincy 

Yes, I was in contact with the hosts who had the similar listing around the corner and contacted them to double check when their calendar was blocked. They confirmed that they were not hosting for the time being.

The other couple of places I just had in the mind as back ups, so never contacted the hosts for those, but now can't find them on the search so assume they've stopped hosting altogether.

So far, I haven't really found alternatives nearby that are a similar offering to my listing. The last place I suggested for a guest was okay, but I am not sure I would refer guests to it again as the listing wasn't completely transparent.

[Mountain-Peaks-Motel0]

Every few months I read other listings reviews and see what's people like other properties the most, and what are they complaining about. Then use that as an experience to improve my listings. I use smart pricing tool, sometimes I look at the prices, but honestly I'd rather make $10 less a night and keep all the room occupied than making slightly more and have a low occupancy rate. I usually keep my price high on weekends, and during the slow months, I keep the price very low, it's a good way to keep workers all year around, plus we are gaining visibility, reviews etc. It serves me well long term. 

[Michelle1164]

@Quincy Another thing I like to keep an eye on in regards to local competition is guidebooks. I think this is an under utilized resource by hosts. I say this because I have found a lot of hosts don’t even have one or they don’t put much effort into it all. However, those who take the time to make good ones have a goldmine of info available for those guests looking for good local eats, entertainment, shopping and where to get essentials. By looking at other local host guidebooks I have found some really cool places I never even knew existed around where I live. Some have even become my personal favorites to frequent. 

When we use Airbnb as a guest it’s also one of the 1st things I look at too. If the host we choose to stay with doesn’t have a guidebook I will look at numerous guidebooks of other hosts in the same area we are staying to find great suggestions from the locals. When we travel we like eating at places we can’t find at home. Locals tend to know where all the best hole in the walls are. 

[Huma0]

@Michelle1164 

That's an interesting point but, in my personal experience, very few guests even look at the guidebooks so I don't think it makes any difference to my bookings. Perhaps it varies according to location but, even though I send all guests a link to the guidebook before they come, most still don't look at it. Once they are here, they will ask about the local supermarkets etc. I will direct them but remind them to look at the guidebook as they will then be able to see everything on a map. They still don't look at it. I find that most people don't like to read or seek out information for themselves when they can ask the host instead. You are probably a rare gem of a guest in that respect! 

[Michelle1164]

@Huma0 I understand what you are saying. I really don’t know how many of our guests actually look at our guidebook either. As you noticed it is something that is important to me as a guest. So for that reason it is important to me as a host too. Us rare gems got to stick together 😉💎.  

[Laurelle3]

@Quincy yes I have a look every so often to see how many more homes have opened up for the tourist season and what their prices are and what are they offering.

When the pet policy came in and I elected not to have pets, I have made a list of those airbnb's that do  near me and refer them to guests who are making enquiries.

When I do look at the listings that are similar and near to us I check their occupancy rate as this is a guide for price as this is an indication that it is too high or to low compared to my set price.