What is the Nearby Listings Tab? (VIDEO)
The Nearby Listings Tab in Beyond Pricing makes it easy to see information on the listings you are directly competing against.
If you or your listing is new to short term vacation rentals, then we recommend using Nearby Listings as a way to gauge where your listing fits within the market. We recommend focusing your attention on the listings with the highest Health Scores as their pricing is generally working the best.
If you are new to hosting we suggest you look at other listings to get an idea of where to set your Base Price. However, as a general rule, we do not recommend making Base Price decisions by copying your local competition. As we like to say, you wouldn't want to cheat off a C student!
Rather, we recommend opening a few listings on Airbnb or VRBO to see how they look online. Some of the key factors to focus on include:
- how professional the photos look
- how detailed the description is
- how many reviews the property has
- the unique amenities the property offers e.g. pool or jacuzzi.
Reviewing other listings in your market is a great way to get a sense of where you should initially set your Base Price. It can also provide insight as to why your listing may be performing better or worse than others in the market.