I have noticed that they don’t discount single days enough either, but I’m confused by what your saying here. Are you saying I shouldn’t manually adjust the single days down based on further observation by you?
Meant to type ‘since then it seems…’ because they are discounting it more steeply (and accurately) as far as I can tell. It looks like according to Listing Availability Impact that they discount single days by 20%, a two day block by 15% and a 3 day block by 5%. So yes, I’m saying it looks like they’ve dialed it in better now and I wouldn’t adjust it further based on my own listing experience. Out of curiosity link me your listing so I can take a look.
I started out with Beyond Pricing, which charges a percentage of your reservation fee. Turns out, however, this is not a true percentage, but defaults to a minimal amount–that is to say, if the percentage would actually come out to $3, but the minimum charge is $5, you get charged the $5 (these are hypothetical amounts, not actual, of course). Since my private rooms are relatively inexpensive and the majority of my guests are 1-2 night stays, this was costing me a relative fortune.
Switched to Wheelhouse where the percentage is an actual percentage, at least as far as I can tell. I play around with the numbers quite a bit trying to find the sweet spot, as I find the recommended base causes a drop off on reservations, but I am also the nervous type and I think some of that is due to not trusting the system enough or giving it appropriate time to work.
As far as Air’s Smart Pricing, I’d go bankrupt if I went off their recommendations. Seems like they want to give my rooms away nearly for free. I have an 85-95% occupancy rate and they keep saying “lower your price for more reservations.” Meh, I’m okay with 85-95%, thanks.
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@corvidae: Sergey from Beyond Pricing here.
We should be charging the flat percentage, not rounding. If you send an email to support [at] beyondpricing [dot] com, I would be happy to look into it for you!
After I cancelled Wheelhouse and turned off all my listings, they magically turned back on!!! Got IB’d for a super cheap rate and couldnt figure our ‘how’, once again WH screwing me over! If you cancel WH DEACTIVATE their ability to even see your listing. I believe its called ‘delete’ listing.
Ugh. So annoyed and disappointed wjth Wheelhouse. Beyond Pricing is FAR from perfect and I agree they dont fluctuate pricing as much as Wheelhouse but atleast they give solid, albeit conservative recommendations. Both services I manually eneter prices for dates I think the algorithm is predicting accuratly for, at least BP hasnt switched off my manually adjusted pricing, yet. 
FTR as soon as I switched back to BP we saw an influx in bookings. I think BPs pricing was more accurate for that particuar market (Barcelona).
@azreala: Glad to hear Beyond Pricing is working for you 
If you have any feedback on specific dates that we might not be getting quite right, feel free to reach out to me at sergey [at] beyondpricing [dot] com, and I’d be happy to look into it for you and see what we might be able to do to improve the algorithm and product.
THAT explains it, I knew their event database was garbage. I love everything else about Wheelhouse for the record, but predicting major events is a serious flaw.
BP has worked for us fine, however we do keep a close eye and adjust our last minute discounting (x days away) every two weeks or so, depending on how the coming month is shaping up.
Hello!
Extremely late to this forum but thanks for all the wonderfully insightful information!
I am using both Wheelhouse and Beyondpricing as of now and I find that Wheelhouse is better for me and my business. I do believe that if you own/manage one to a few rentals then your best option is to continue to price your calendar out yourself.
However; if you are overseeing quite a few rentals, it’s beneficial for your time and for the money you are making to switch most of your business into automated pricing, communication, etc. You will have a lot more time to focus your energy and money on better things like picking up new rentals or making the guests experience more memorable.
I like Wheelhouse over Beyondpricing because of the simplicity and tools available on their platform. I also benefit from the willingness and personalized feedback I get from Wheelhouse while beyondpricing lags to respond.
Note for ANYONE!!: These pricing tools will never be 100% on how to price your listings unless you work with them (a lot at first) and tell them what you need to see more of (literally tell them to fix certain things they are very willing to accommodate for your business). This way they can input it into your pricing strategy and eventually take the tedious job of pricing away from you and give you the free time to explore greater investments/options/fun in life.
I hope this resonates with someone and I’d love to get an update on THE PEOPLE IN THIS CHAT on how things are going…
- Capital RE Specialists
No Barns, I am not Quinn. I am myself. Life is enough of a challenge, without trying to be two people.
I’m still happily using Wheelhouse.
I was using airbnb smart pricing at one point, before fully switching over to Wheelhouse and…
Airbnb smart pricing seemed to lose its mind. It was giving prices that were a third of what it should have been giving. I called airbnb, and they incorrectly assured me that their pricing was working perfectly. The airbnb price tips still occasionally give me the insane prices. In other words, part of the reason I use Wheelhouse is that I trust their system. And when I have had issues, they give sane responses. Unlike airbnb, who gave me an insane response. And beyond pricing, who never replied to me.
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Thankyou for your reply, I was confusing your fine writing with another sales pitch!
I’ve been using Wheelhouse after beyond pricing and everbooked and am really happy with the options adjustments and mindfulness that is put into getting the right positioning.
It is a science to a degree but an art for the rest and that means if there is a season or event needing attention you have to do some artful guessing how much to get without having people choose the next cheaper place.
Also if they do what they are supposed you still need to update and keep your property info fresh, change the titles ever so often, remember you are competitive against so many others now. AirBnB ranking is another consideration they want the cheapest to generate the dollars for fees and have their own interests they look out for so they grow their bottom line.
It all takes participation and awareness but having this part done and watched is a big step in the right direction and has been very useful for our 5 properties in Phoenix !!
Also it is worthy to note you wouldn’t see much participation from “the others” in chat groups exposing themselves and being available I applaud quinn and those from Wheelhouse as I have browsed for best practices they are usually in there somewhere trying to understand and be helpful… means they care to me!!
Thanks for the opportunity to share my experience hopefully yours goes well too! ps I’m not affiliated paid or otherwise influenced by them I’m just trying to get paid the best I can from my investments like everyone else 
Cheers!
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What I’ve found - As a note, these are all dynamic models, so they could change season to season. If your findings don’t match my own add more to the discussion 
below.
- AirBNB Smart Pricing: Cheapest (free?) but you’ll lose more than 1% in their underpricing. AirBNB has the best data and should be able to do the best smart pricing – And they might be… Just that they are likely training their models to optimize their profits and not yours. AirBNB gets a big chunk per booking in client fees, and I’ve found their model regularly underprices and leads to constant back to back underpriced bookings.
- Wheelhouse: Best pricing, good communication (I’ve asked them all sorts of BS stuff using the little chat bubble in the bottom right and they always get back) and worth supporting. Downside – VRBO support broke over a year ago and they haven’t been able to get it working yet.
- BeyondPricing: Used them a few years back and found wanting. I’m going to give them a go with VRBO, but it’s risky as turning on another service at a different price risks cutting into my AirBNB margins. Will update.