What other sites are you listed?
@Debthecat - Are you getting anything from TripAdvisor?
I have a subscription with VacationHomeRentals and they show my listing on Tripadvisor, but so far down that I only get about one view a day or less, and I’ve had only six inquiries in the last year. Their booking fee is beyond outrageous, so I won’t list with them on a pay-per-booking arrangement.
Only 1 booking so far - but since so many people use trip advisor to check out the listings for an area, I just see it as free advertising and another way to get my listing out there. I have names for my listings and that is what people search for.
Hello all,
My wife and I are very new to hosting - our Airbnb advert went live a week before Christmas.
From the outset Airbnb were ‘suggesting’ a low price and continue to do so. We had done quite a bit of research and benchmarking against local listings and we listed at a price 10-15% lower than that, our ideal base price (putting it up/down by s £1 or £2). This is with their smart pricing though.
Airbnb was suggesting (and continues to suggest) a price approximately 40-45% lower than our hoped-for base price. We’ve had 5 bookings so far in the 12 days of listing at our price which were reasonably happy with. Our first guests check-out today!
Like the advice in this thread we’re going to ignore their tip to lower prices and manage it ourselves!
5 Likes
Thanks so much for reposting that. I think I’ve sorted it out now.
That is the right approach I think. Though worth looking at their tips occasionally and wondering who is offering a sea view apartment for $50/night. Well I guess I was when I started 3 years ago. Having said that I see “neighbours” who advertise a single room in their house for $80/night but when I check they aren’t getting many bookings. Do your own research is the key and include Airs suggestion as a (very) low ball price.
2 Likes
Thanks @JamJerrupSunset, we’ll keep our eye on the market and adjust as necessary. We’re heartened that we got another booking yesterday after my post. The next aim is to turn more of the bookings in to longer stays - I don’t see many tips on that subject. I’ll have a look around this forum.
I started out as cheap overnight $50 stay for travellers with continental breakfast makings provided. Now I set the minimum stay to 2 nights with 3 nights over summer. I spend a lot of time experimenting with prices and have gotten it up to $85-120 night. I keep my long price (say 2 months in the future) high as the people who book well ahead seem happy to pay a premium for the right place as they plan their round Australia holiday. People on Booking also seem okay to pay a higher price, presumably as they are comparing it against hotels. But I also offer my regulars a much cheaper price particularly if they book mid week outside the holiday season.
My advice: don’t be afraid to experiment with prices, you can always change them if not getting many bookings in a particular month (my low month is August, mid winter here, and to be honest I am glad to have the occasional week off). Then again I sometime put them up too high and come up against a bit of a wall, so reduce them again. I’d love Air to say “this is the average mid week/ weekend/holiday price you got last year” rather than random price recommendations.
As I say to local newbies asking for advice: “the right price is what someone is prepared to pay for it, not what you think it is worth”
2 Likes
@JamJerrupSunset, all very good advice. Thank you. We’re hoping to increase the price gradually, particularly in the summer, to at least our base price of not higher. Hopefully getting some reviews from these first few guests will help.
1 Like
I find checking out the Air “stats” figure for monthly earnings is very useful
1 Like
Think of the Air price as “if you offered it at this rate you would definitely get a booking”. Then double that and compare it against what you are offering,
You’re welcome. Since sending out the information message re payments and cancellation policy I have had 2 cancellations. With booking.com I like to give people 24 hrs to cancel so they can read my spiel and then decide whether to go ahead or not.
It does amuse me how upset people get with a computer algorithm! I ignore it mostly, but it’s occasionally useful to see how low I need to go to get a booking. Every now and then when I’m not doing much and the cupboard is bare, I change the prices for the following week to the tips suggested and get a little cash to buy groceries. The rest of the year, I know that I know my market better than the computer programme.
3 Likes
I have a PhD in Applied Maths and so think about what The Algorithm is trying to optimise. I’ve decided it is “market share”. Somewhat weirdly they prefer to get more bookings than less booking at a higher price. It probably has to do with how Air markets itself to potential shareholders. More bookings = better.
3 Likes
Yeah I think I have read someone here say something similar. It’s as if any service fee is better than no service fee 
Whoa, impressive! Another reason to admire you! 
It’s because they adjust the booking fee and increase the percentage as the price lowers. The traveler is going to pay less. And Air walks away with no loss.
They now charge up to 15% booking fee. If a room is listed for $100 a night and let’s say Air charges 12%…that would be $12 in Air’s pocket, $112 cost to the guest.
If Air can convince the host to reduce their rates from $100 to $80, it’s no loss to Air. They can easily increase their rate to 15%. Air still makes their $12 booking fee ($80 * 15%).
Guest now pays $92 instead of the original $112. Air considers it easier to convert a looker into a booker at $92 instead of $112. Win for Air, win for traveler, and loss for host 
10 Likes
Just took on co-hosting a flat and managed a New Year booking 30 Dec to Jan 2.
Looking today at Jan 3 - 10 which is still a holiday period here in St Petersburg and was empty -
Price tip today was 779 Roubles ( for a three bedroom flat slap bang in the middle of tourist land)
Got booked 30 mins later for 7000 Rubs a night.
9.5 x out - can anyone beat that?
Did I tell you we had to opt out of going to StP? The ferries don’t start until March 28. We have switched to Tallinn Estonia. But one day we will come to Ru when we can get a visa and do more widespread touring of the country.