Price setting

[Edith84]

hello everyone, i am new and will like to get some response on how smart pricing worked or is working for you, like when is the best time to use it.  Please share your experiences.

thank you

Edith

[Marzena4]

Go to this topic: https://community.withairbnb.com/t5/Airbnb-Updates/How-Smart-Pricing-Works/m-p/548787#M2608

and there are a lot of comments there.

Also, you might simply type in "smart pricing" in the search of this forum and a lot of discussions will pop up, @Edith84

[Branka-and-Silvia0]

@Edith84

I've never set smart pricing bc I want to have pricing under control and it offers me to low prices.

But regarding "Price tips" I noticed it will allways suggest less then I have set. If I set a price 50€ it will suggest 40€ but if I set it on 10€ per day it will suggest  7 € !  😄 😄

My advice:  don't use smart pricing or you will work with loss.

[Sue-and-Andrew0]

Smart Pricing doesn't work well for the area that we operate in - it is certainly skewed in the favour of guests, and can easily become a driver to a downward spiral in prices.  My concern would be a scenario where prices are potentially driven lower and lower each season and across each AirBNB.  If your price on smart-pricing is "x", will smart-pricing recommend your neighbour drops to "x - 10" to increase their occupancy, and then cycle back to your accommodation and recommend "x - 15" to build your occupancy.

On a practical level, smart-pricing has often recommended prices for our apartment that just don't make our apartment viable.  The goal of smart-pricing seems to be to build occupancy (i.e. more guests use AirBNB), not to necessarily build your overall revenue (less guests but at a higher rate).  I would rather achieve revenue from fewer guests, than run very full at a lower rate - less costs related to wear-and-tear.

[Edith84]

Thanks for responding, I have never used the smart pricing because the prices are always set way beyond the your value.

Edith

[Ned-And-Laura0]

I use smart pricing but I'll go in on certain days and turn it off so I can change the pricing.  It raised the prices too high during summer month weekends, pricing me out of the market (not a tourist area), so I just manually adjust those days.   I also go in and reduce one random mid week night a couple months in the future because the lowest price in your entire calendar is what is displayed on your listing if no dates are entered.