pricing

[Ellen99]

Hi all, May I ask if the majority of hosts utilize the smart pricing feature?  Or customize as you go along? I am a new host in a beach community in which the demand will soon go down...as will prices...but I dont want to undersell myself either. Thanks

[Marzena4]

@Ellen99 Smart pricing is fine as long as you smartly set your minimum price. 😉

[Kelly149]

@Ellen99 I always LOOK at the "smart" pricing. I'm mainly looking for places where my prices should go UP. My idea of what represents a reasonable minimum and Airbnb's seem to be vastly different. I also find that abb does not seem to notice the difference between a weekend or a weekday but this makes a huge difference in my market. Weekends will almost always Book at any price and weekdays will rarely Book at any price. Bottom line you will likely be smarter about your pricing than the robots. 

[Ellen99]

Thank you Kelly. Very similar here in my area. I think I will play it by ear for now and follow my instincts, as opposed to the suggestions.  

[Willow3]

Smart pricing recommendation is stupid low in my area.  I have it "on" but have my minimum set well above the recommendation.  And only once has the smart pricing kicked in to raise my rate more than my minimum.  So I leave it on, it can't hurt, but have little to no expectation of it doing anything. The one time it raises my rate - I'm happy!

[William247]

As others have said, if you use smart pricing - be sure your minimums are set to a price you are satisfied with. Because Airbnb will quite happily rent your listing for far less than it is worth. They would rather get a few dollars in fees than no dollars - regardless of the value of your listing, the work you put into getting it ready, or the wear and tear on your property from renting without making a profit.

William