How To Price Your Airbnb Listing

We are going to teach you the best strategy and technique for pricing your Airbnb listing.

It is a process to discover your ideal pricing. Even after you start using our strategy for pricing it will take some time to dial it in. Let's start by identifying the objective. Simply put, we want to get paid the most possible for our product or service, in this cause it's our Airbnb listing. Along with that, we want that price to be accurate to the market so it doesn't result in negative reviews, "Not worth the price". Value is one of the 6 categories REVIEWS are builT from and therefore it's something you absolutely want to be mindful of. 

Step One: Research Your Market 

Researching the market is about understanding supply and demand. Every market is unique and also constantly changing. Discover what the range of prices are for properties that match your tier/quality. Make sure you confirm your price discovery with reviews and listing status. 

Step Two: Increase Your Full Calendar Pricing 

Go into your listing settings and increase your week-day and week-end rates to the ideal, hopeful but reasonable, pricing you discovered during step one. 

Step Three: Reduce Your Pricing For The Upcoming Week or Two

Go to calendar view and select all the unbooked dates in the next two weeks and reduce the price down to usual/reliable pricing. You can set all the week-end dates at once and all the week-day dates at once. 

Example: If you know guests will pay $140 for week-days and $180 for week-ends, set you entire calendar pricing to a high rate - $165 for week-days and $225 for week-ends. Then, every couple weeks go in to your calendar and edit the price of the upcoming "two weeks" back down to the amount you know people will regularly pay ($140 and $180 in this example). 

This pricing strategy will allow you test the market with increased prices further out in the calendar with guests that have more established plans. It also allows you to prioritize filling up your calendar by reducing the price a week or two before the date - which is when a large percentage of guests will choose to book in our experience. Over time, if you start to fill up your calendar more and more at a month out you can increase your prices again to see what the market is willing to pay for your space. 

Be mindful that seasons, events, and new airbnb listings will have an affect on the supply and demand. The Airbnb Platform offers Dynamic Pricing where it evaluates the market and adjusts your pricing accordingly. This programs will improve over time but we've found it to be unreliable. It's likely because the platform's goals and your goals as a host are not perfectly in sync. The platform likely prioritizes consumer growth while you prioritize listing growth. 

Software Recommendation - AirDNA is a great tool for analyzing the market. You should definitely consider previewing their product. AirDNA Website 

BNB MINT Helps Airbnb Hosts Create Successful Listings

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