Pricing changing from request to confirmation

[Caitlin75]

I had a pending reservation request/inquiry. I chatted with the the potential guest and decided to accept their request and so we made the booking permanent. Once the booking was permanent the price per night went down. Why did the price change from request to confirmation?
My understanding was that the request shows the payout/per night price the guest will be paying based on when they requested the booking and that this shouldn't change from request to conformation. Not to mention the time between request and my accpeting was maybe an hour or two.

I know that I have smart pricing set (really neat feature), but why would any pricing change between request and confirmation when there were no price additions/deductions/discounts provided?

It's not a significant amount, but if this happens continually, then an insignificant amount becomes significant over time.

Anyone else caught this on their request to confirmation pricing?

[Fred13]

If get the chance look up what others think of 'Smart' pricing on this board; my impression is that most hosts consider it unnecessary and even outright ridiculous.

[Caitlin75]

Hi Fred, 

I will look into that - great idea thanks! I haven't been finding it too bad as I set my minimum high (lowest I'm willing, not lowest market can take) I will potentially change it after this mishap though.

[Letti0]

@Caitlin75 Smart Pricing isn't very smart is the general thought. It prices your listing too low almost always. Look at the rates other comparable properties to yours are charging and price  just a tad bit lower until you have more reviews then inch it up to their prices a few more reviews and get a little higher them. You get a better class off guests. Also I would change your cancellation policy at least to Moderate, some one ties up your calendar for long periods and then cancels should not get off scot free,. Let the guests have some skin in the game too. 

[Colette18]

I agree smart pricing is not good. It's just another way for air B&B to promote. a few dollars off will not make someone change their mind on your specific listing unless you have very heavy and comparable competition. IN Costa RIca, properties are far between and cannot be compared...so smart pricing is just showing me lower pricing in an area very different , like middle of village with traffic etc. as opposed to my mountain retreat. NOT smart

[Caitlin75]

Thank you @Leticia101

I have turned off my smart pricing and will start watching my local market rates and see what's going on during what months. I have also updated my cancellation policy. I thought moderate was likely better, but was worried about loosing bookings.

[Leticia101]

Hi! I believe you tag the wrong Leticia, the one you intended to is Letitia.  Good luck!

[Matthew285]

@Caitlin75 I guess that Smart Pricing does not know whether a given night is part of an Inquiry. If Smart Pricing changes the prices at noon each day, the prices are going to change (even if the night is part of a potential booking).

I have had a similar thing happen with Wheelhouse. I guess Booking Requests don't "lock" prices.