How should I price my listing in 2023?

Sybe
Community Manager
Community Manager
London, United Kingdom

How should I price my listing in 2023?

Sybe_0-1672922674023.png

 

Hi everyone,

 

The last few months have been tough on us all with rising prices for utilities in many regions of the world. That being said, one of the most interesting (and most searched!) discussions here on the Community Center is around pricing strategy, tools and opportunities such as local events. 

 

As we settle into 2023, what were your biggest learnings on pricing in 2022 and what do you hope to try out this year?

 

I’m looking forward to hearing your thoughtful reflections and hope that we can share tips here.

 

Thanks,

Sybe

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46 Replies 46
Rafael1408
Level 2
Las Vegas, NV

I feel i'm too cheap.. lol like my prices to be too cheap around $30 in vegas. Then again the area is not fancy or anything but close to strip, fremont st. But thats what most ppl want I'm assuming and from what i've read online. I have just been looking at others' pricing and they're not far from what i'm at. I might re-evaluate see what I can improve or 'copy' from others and get closer to their prices. 

Patricia3721
Level 1
Columbia, SC

There is a way. Look under weekly discounts and a second link should pop up for shorter stays discount. 

Hi Sybe,  we will increase our prices with appr. 4 percent to follow inflation a little bit. What I am lacking in the AirBnB pricing tool is the possibility to differ in pricing between one night and two-six nights. We can give a discount for one week, but a discount for two days or more seems to be impossible. However, we do have that difference on our own website and I would like our distinguished AirBnB guests to be able to benefit from this discount as well. Any solutions from your side? Thank you very much. Kind regards, Otto and Barbara

Yvonne-and-Tony0
Level 2
Long Branch, NJ

I have seen the Abnb fees jump quite high over the last few years.  I would like to ask for a more transparent breakdown on what the added fees that guests pay pays for.  I know that it takes a lot to manage the calendars, the texts, the website but you were a profitable company when your rates were much lower!  Asking hosts to reduce rates when the price of everything from food, to heating and air conditioning, to goods to run a proper space costs more these days.  Maybe Abnb headquarters should consider lowering the service fees.

On another note, I have wanted to add an experience to my Abnb.  I haven't really been able to find clear guidance on how to do so.  My idea is to teach how to home brew Kombucha to start.  Since doing so would also help the company make more money, I hope someone will reach out to me and guide me in how to proceed.  Thank you. 

Kristin108
Level 10
Scotts Mills, OR

I am a full time professional (Super) host with 3 listings outside Portland, Oregon.

My property is a rural farm with a Guest House and Glamping.

It is also my only source of income...

 

I realize that there are a lot of folks out there who have another source of income, and might be able to take the hit and reduce their rates in 2023, but I can't afford to do business that way.

 

Everything has gone up, from everyday cleaning products to quality bedding, towels, etc... To heating and maintenance costs. 

 

I will be increasing my rates appropriately to reflect the cost of living increase...

And I will continue to offer a $20. bottle of wine, fresh flowers, cheese and crackers and luxury bedding, and bathroom supplies. 

 

I will continue to provide quality stemware, (even though guest continually break the glasses and never offer to pay for them). 

 

I will continue to provide the best stocked kitchen most guests have ever had access to. I will continue to provide guests with a meticulously clean and well maintained home.

And I will continue to meet and greet all guests upon arrival... (No self check in, no smoking, no pets, no assistance animals).

 

And I will continue to offer a five star experience with beautifully landscaped grounds, extensive private hiking trails and local waterfalls and wineries! 

Helen3
Level 10
Bristol, United Kingdom

As a 'professional host' I'm sure you know you are not allowed to deny assistance animals @Kirsten108 

Diane15
Level 6
Spokane, WA

Hello Kristen.

Enjoyed reading your reply.

I, like you am a full-time Host. (2 STRs, 1 LTR.) I also catered to the "luxury" set.

I did want to point out that not allowing "assistance animals" is potentially breaking Federal laws by violating the ADA. Also, the state of Oregon might have a say in it as well. I know Airbnb does not allow it, as that was one of the main "mental hurdles" I had to get over when considering renting out my first home. The thought of a dog, with its heavy claws possibly scratching my new wood floors made me weak in the knees. But after I spoke to my lawyer about the issue, it was made crystal clear to me that I might be opening myself up for a massive lawsuit.

You may want to "re-think" your policy and also edit your reply. Just a little friendly "food for thought".

Best of luck to you!

 

Albia3
Level 1
Orlando, FL

I just started and cannot compare with “before pricings”, so mine is what it is, considering all expenses. I notice I only have rentals on weekends, but Orlando, FL, is always busy. What am I doing wrong? I already set smart pricing. Got all my rentals when they started me on Airbnb and nothing after!

William1922
Level 2
England, United Kingdom

Kristin, you are my kind of host. Can I ask, how do you find SmartPricing? I've just started and feel it underprices my fabulous place!

Sebastian29
Level 3
London, United Kingdom

I look after seven listings spread over two flats in the same building. When I tried smart pricing all my listings started to compete with each other for the lowest price.  If I hadn't switched it off I'd have ended up paying people to stay here.

Priscilla46
Level 4
Concord, MA

I keep analyzing my competition - their prices and when they are closed for bookings. I raised my prices a little as I would rather work less for more.  I also added a slight surcharge for guests over 2 (more linens, etc.)  I have an advantage of having two bedrooms, which is a listing often in demand. And decided to accept dogs for $100 per stay!  So far, so good!  

Sheila659
Level 2
Lucan, Ireland

Hi Sybe, 

I will not be increasing my prices for the moment.  I am happy with the payment being received and will re-evaluate in 6 months time.

Regards

Sheila

 

Cody235
Level 2
Richmond, VA

Sybe,

 

I use the Smart Pricing feature and bump the minimum up to what I feel is the least I can accept for offering my home to others.

 

I'm have been relying on airbnb's algorithm thus far, and plan to continue relying on that feature as I have had more bookings than I need.

 

Anyone else use the smart booking feature with strong positive, or negative, feedback?

Solveig0
Level 10
Lørslev, Denmark

Hi @Cody235 , I use smart pricing, but I find that its too slow, or else the high demand in my area isn't high demand enough, for Airbnb to even register its high demand, so it always selects the lowest price. I've added manual prices for those periods I know are high demand. 

Rahfyah0
Level 2
Montego Bay, Jamaica

Greetings great one. 

Yes 2022 was an experience which iii will  use to guide  my 2023 where growth is concerned.  

 

Yes iii am willing to adjust my pricing a little more especially in the coming busy season. 

 

Love and Light to you all 

Fred13
Level 10
Placencia, Belize

Just wanted to make a point on this 'Pricing' issue. One of the objectives in hosting is to 'look current', meaning places without a review 1-2-3 months subconsciously feel to an unknowing reader like that place is not coveted by others thus do not tend to add to the dilemma. For some that is another further negative aspect of the last few months (even going back since May for many).

 

One thing leads to another: for 2022, the new categories spread the clientele more broadly (default 5-day filters also part of the problem) > low bookings for some > makes the web site visitor nervous seeing no one or not many staying in a place > a problem that then compounds itself further. Oftentimes, best to lower prices just to get enough reviews to stay relevant. Just a thought.

Patti120
Level 4
California, United States

Hi Again. You can see my listings at Beach View Deluxe in Ventura and Beach Side Styl’n in Ventura. The listings are not the problem. We are a 12 month season. There isn’t any downtime. I have to block downtime when needed for maintenance. 

Patti120
Level 4
California, United States

Hi Fred, I am usually 85-90% booked. Ratings are approximately 100 reviews for each listing. One is 5 the other is 4.99. I have a 3 night minimum. 
there is a lot of discussion about this issue on LA Airbnb Host on Facebook (an Airbnb sponsored FB page). The problem appears to be with Airbnb changes to their algorithms. It also appears to be a world wide problem. I would rather help Airbnb identify the issues than change companies. These are difficult growing pains for all of us. Many are talking about it and some are SCREAMING. This isn’t good. 🤞It gets solved soon. 

Ann72
Level 10
NY, NY

I think your point about recent reviews is valid @Fred13 - as a consumer that's what I look for, too.  I believe though that when people are looking at something like a Maine getaway (which is what my listings are), they're comfortable with the last review being from October, because they understand that coastal Maine is not a winter wonderland.

Trude0
Level 10
Stockholm County, Sweden

@Fred13 @Ann72: Glad you brought up the topic of recent reviews - or lack thereof.

 

For many hosts - like me - it is a challenge that Airbnb sorts reviews not by date first, but by original language first (then by date). I am in Sweden, and have my language setting at English, as most of my guests are international guests who communicate in English. Meaning that all reviews written in English come up first (sorted newest to oldest), THEN come all reviews written in other languages (newest first).

 

I took a break from hosting from Aug 2021 to Oct 2022. Have had 5 great guests since then, who all wrote great reviews. But only the review in English (Oct) shows up at the top of my list of reviews, for guests who have English set as their language. So for many guests searching, it looks like I’ve only had 1 guest since Aug 2021. Which is probably not to my advantage. 

 

To see the other 4 recent reviews, you have to scroll past 39 reviews, and there, below my very first review (Vlad, May 2019), are my latest 4 reviews (Anna and Simone both from Germany, Merel from Holland and Éléonore from France). 

This is quite frustrating - and also unneccessary. The translation tool at Airbnb is not bad, so there is no need to sort reviews by language. 

I don’t want to lower my prices to get more bookings, and I don’t want to ask the guests to write in English - wish Airbnb would instead change the way they sort reviews. 

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