18 Feb 3rd Party Airbnb Dynamic Pricing Tools: Beyond Pricing Vs. Everbooked
Update: Everbooked does not exist anymore. And Beyond Pricing is the leader so we recommend Airbnb hosts to use BP.
Dynamic Pricing Definition: also referred to as surge pricing, demand pricing, or time-based pricing is a pricing strategy in which businesses set flexible prices for products or service based on current market demands
Everbooked had two different product offerings. Their core offering was their market analytic tool and then their secondary offering which was the dynamic pricing. They no longer support dynamic pricing and decided to solely focus on their market research tool. You can read more about it on Everbooked’s blog.
EverBooked Market Research Tool
I discovered Everbooked earlier this year and have used their products for a couple of months. In a nutshell, Everbooked wants to provide “big-data” to vacation rental industry, an industry that will be worth close to 200 billion by the end of 2021.
In Everbooked, you can enter your listing and it will automatically research your local area and pull together a set of listings comparable to your own. You can then see how you stack up against your neighbors. As you can see, this is extremely effective in gathering hundreds if not thousands of competitive listings.
When I used it back in February and March of this year, they used to have two different products: automated pricing and market reports. Since May of this year, they decided to exclusively focus on market reports and discontinued automated pricing. You can read it here. They used to charge $20 dollars per month + 1% commission on bookings that were generated via the automated pricing tool. Now, they charge a flat-fee of $100 dollars per month, which is the cheapest monthly billing solution compared to Airdna.
How It Works
You will have to pay to use their service. They do not have a trial period anymore.
Beyond Pricing – Dynamic Pricing
The CEO of Beyond Pricing has a deep knowledge of pricing strategy for hotels and airlines, so he was keen to only focus on pricing strategies for short-term rental platforms like Airbnb and VRBO. I reached out to Ian and asked if he could tell me in three bullet points or less that Beyond Pricing is the best for dynamic pricing.
This is what he said:
- First ever vacation rental pricing solution
- The only solution built by a team that actually has experience doing pricing before (I used to help the world’s biggest airlines and hotels)
- And we are by far the biggest and most popular with over 120,000 listings using us in over 1,000 markets
In case you didn’t know how Beyond Pricing works… Their algorithm dictates how you can maximize your nightly rate by seasonality, the day of the week, and local events. I saw a 33% increase in my revenue when I tried them for free for the first month. So, I decided to give them my 1% of the revenue in exchange for 32% increase.
If you are interested, I’ll hook you up with a 1-month free trial. You can go sign up using this link.
Interest in learning how to build your rental arbitrage empire? You can subscribe to my blog and learn tips and insights on my process of creating a profitable 6-figure passive income business using other people’s home. I write on the regular and offer free tips and insights.