How does Beyond Pricing handle luxury properties or factor in my listing's unique amenities?
The unique qualities or amenities of a listing will make it more valuable than similar properties in the same neighborhood. Your listing might be oceanfront, have a pool, or have a modern interior design.
There are numerous reasons why your property might be more attractive and valuable than another and these factors play a large part in how your listing should be priced in comparison to the market.
Beyond Pricing factors in the unique characteristics of your property when setting the Base Price. The base price represents the true market value of your listing. So listings with the same number of bedrooms will warrant different prices. Think of this as the difference between a room at the Ritz Carlton and a Motel 6 - short terms rentals operate in a very similar way.
Ultimately there is no pre-defined value for a given amenity as every market is different so this is not a hard and fast rule.
Continuing on the previous example, if the listing with the pool was further from the downtown area then the pool may only warrant an increased base price of $10 ($210). How your listing performs at a given base price is what matters most.
It's also important to keep in mind that your competitors should never drive your pricing decisions. If your listing is priced the same as a competitive listing (that you find very similar) but your listing is not performing as well, then you know that for whatever reason your listing is not as attractive as the other. The way the market responds to your base price is the most important information you can keep an eye on. This is a very important concept to keep in mind with dynamic pricing.