Smart Pricing Issue

Hillary54
Level 2
Richmond, VA

Smart Pricing Issue

Yesterday I looked at the pricing for this summer and when I logged in today every day had been changed to our minimum value. Every Day. Anyone else experiencing this? 

22 Replies 22
Noel102
Level 10
Houston, TX

All that means is market conditions don't command a higher price, based on demand for listings in the area.  Mine usually stays at or around my minimum.  If it ticks up, it's usually not any earlier than  a month or two out, which seems consistent with the trend in my area that most guests book less than a month out from their stay.

That’s good to know I guess, we’ve just never had every night (even in peak season) drop to the minimum.

Emilia42
Level 10
Orono, ME

@Hillary54 

I want to like Smart Pricing and I wish it made me more money but I can barely get prices to go above my minimum unless it's 6 months out (and I feel a little uneasy about charging someone my highest price of the year in November.) All my prices drop to my minimum within 4-6 months. So right now my mid August-December 2019 are still "higher" but June, July, and beginning of august (the busiest time!) have dropped to my minimum. This happened last year too so I always go in and mainly adjust some important dates.

 

The biggest weekend of the year in my town is the University graduation in May. I could rent my apartments 1000 times over and make $100 more per night than I usually get. I am not renting one apartment on Airbnb this year. I still occasionally unblock the dates to see what the smart pricing would be... still the minimum!

Robin4
Level 10
Mount Barker, Australia

@Hillary54 

 

I have seen and/or corresponded with 5,148 users since I have been part of the Community Centre and on just one occasion have I ever come across another user who feels that 'Smart Pricing' works for them!

 

If you want to look at Smart Pricing as some sort of curio and experiment with it, but watch its structure like a hawk, ok, go ahead but, to my knowledge only .0001% of users I have had anything to do with felt there is some advantage to it!

And when you think about it that's what marketing tools are designed for....to help the company!

 

As I have said elsewhere....'host to a standard, not a price'!

 

Cheers......Rob

We had stopped using it for our busy season (it’s a ski house, so from December to March is when we have the most people) but found it was ok for the off season. I guess we just won’t use it at all!

 

thanks so much!

Ann72
Level 10
New York, NY

@Hillary54  Mine did the same thing through the end of June.  Technically, the season doesn't start until the 4th of July weekend, and the three listings have all been booked at the higher price for that weekend.  So far so good.

 

But really!  Once something starts getting more bookings than usual, the price should go up, not stay at the minimum!  So I'm going to follow @Emilia42's lead and go in and raise everything.  I had blocked off August for myself, but decided to open some of it to see what happened.  I raised prices there by $80 a night just because, hey, if you want to take it when I want to be there, go ahead and pay through the nose for itl

 

@Robin4 is looking at me as the one person in the universe who has publicly declared that Smart Pricing has been a good thing.  I'm still not agin it, because using it helps in other ways, but @Emilia42 had warned me it would go down to the minimum as the season approached, so watching it like a hawk is definitely the call.

 

Gotta go raise some prices -- ttyl!

Robin4
Level 10
Mount Barker, Australia

@Ann72 

Yes I was pointing at you there Ann.....not to say that you are wrong, with your situation it may be of use to you, however I cannot see how. Your properties on their acreage are such outstanding properties that you don't seem to have any real competition and your pricing because of this is substantially higher than others in your area. How Smart pricing can advise you to raise your property pricing must be in some way linked to the uniqueness of them.

I would like to study your situation further but, as I said, I have not heard your argument before.....but Ann, I am always willing to learn!

 

That's it,  midnight here and I don't dare have another 'red ned'!!

 

Cheers......Rob

 

Cheers......Rob 

@Robin4 Thank you, Rob!  I'd love to hear more from you.  It's kind of a head-scratcher because "acreage" isn't one of the filters.  They just have to find it and realize that, and have the budget...  I've always taken the "if-you-build-it-they-will-come" approach, but if there's anything more I can do, I'm all ears.  Sleep well!

Gaz--Gary-0
Level 3
Frankfurt, Germany

Just to add the price tips are a joke.  My 12 bed ski chalet was down to $50 per night the other day.  That's $4.08 per night per person.  I work in analytics and I could tell airBnB exactly where they're going wrong, but I suspect most of our children could too, so meanwhile price tips can go f*** themselves.

 

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Maxine3
Level 3
Plymouth, United Kingdom

Let’s book! 😅🤣😂

Hillary54
Level 2
Richmond, VA

I  know Airbnb doesn’t make a lot off of me for each booking I get, but it seems like this is something that SHOULD be functional. It’s not the end of the world to have to set the pricing myself, but I really liked the idea of them doing it based on other properties (which they have very little to compare my place to). It does make me less likely to recommend using it to my friends.

Mark116
Level 10
Jersey City, NJ

I finally turned it on and did as other suggested, which was to set my regular price as the base price....it seems to use the base price for about 30 days out, and then it goes up a few dollars, nothing very indicative that the algo has any notion of major events...but then it will drop down to the mimimum again, and of course tells me I should consider dropping the minimum price, LOL, but at least I don't see the infuriating suggestions on the nightly smart price to drop the cost of a 5 room apartment to $55 a night anymore.  Not sure it helps in the rankings really.

Casita-By-The-Texas-Bay0
Level 10
Texas, United States

I have "smart pricing" but have to be constantly adjusting it

Cathie19
Level 10
Darwin, Australia

Hi @Hillary54 , @Casita-By-The-Texas-Bay0@Mark116 , @Gaz--Gary-0 , @Ann72  & Robin.

 

My personal opinion? The ONLY real smart pricing is your OWN! Research, keep an eye on your market, and set your hosting standard and prices, and stick with them....

youll be less panicked, caught out, but most of all, happier with what you offer and get for your $.