Boost Bookings & Profits: Airbnb’s Similar Listings Tool

Are you struggling to fill your Airbnb calendar? Perhaps feeling lost in a sea of similar listings?

Airbnb's similar listings tool gives you the inside scoop on what similar places are charging, making sure you find the sweet spot to attract guests and maximize bookings.

What is the Similar Listings Tool?

The similar listings tool by Airbnb is a feature that provides instant access to the average prices of similar booked and unbooked listings in your area. This resource helps hosts set competitive rates by offering insights into the market demand and pricing strategies of neighboring listings.

Whether you're looking to fill dates last minute or planning your pricing months in advance, this tool guides you in making informed decisions to boost your listing's appeal and profitability.

Here’s how to check out what others are charging

1. Pick a date: Jump into your calendar and pick any date that catches your eye or if you’re feeling adventurous, choose a whole date range (up to 31 nights).
2. Find your night price: Look for your nightly price and you’ll see a little map icon right below it, teasing you with the promise of “compare your price.” Go ahead and tap or click it.
3. Dive into the comparison: A map will pop up showing the average prices for listings similar to yours. You get to choose if you want to see what booked places are going for or peek at the prices for those still up for grabs.

The Perks: What’s In Store For You

In a recent Hostaway Webinar Series, Julia Herrington, Airbnb’s market manager, highlights the invaluable nature of the tool for hosts looking to optimize their listings. She describes it as a key resource for those wanting to book out their spaces or understand what’s in demand. It’s like getting a bird’s eye view of your competition, enabling you to fine-tune their pricing with sharp accuracy.

For hosts, the benefits are clear and compelling. With the snap of a finger, the instant price check lets you see how your space measures up to similar spots in your area. It’s all about setting a price that’s tempting for guests but still keeps your finances in the green.

Plus, it eliminates the need for guesswork by providing reliable real-time information on current pricing and demand trends. With these insights, you’re better equipped to attract guests during busy seasons and adapt when the market shifts.

In short, this gives you the power to adjust your pricing with newfound confidence like never before. It arms you with the knowledge needed to keep your listing both competitive and profitable, ensuring you attract guests without selling your space short.

Maximizing Your Listing: Step-by-Step Guide

Step 1- Explore your dashboard

Start by opting into the tool through your hosting dashboard. Navigate to the ‘Insights’ tab and explore subcategories like Quality, Conversion or Occupancy and rates.

Step 2- Benchmark your listing

Use the ‘Compare’ option to select ‘Similar listings’ and view the comparative graph. This feature shows how your listing stacks up against others in terms of price, amenities, reviews and more.

Step 3- Optimize for success

Based on your findings, adjust your pricing, consider adding amenities or unique features to increase your listing’s appeal and set up custom promotions to target specific goals.

Simple Yet Powerful

Airbnb's similar listings tool simplifies the complexities of hosting giving you the power to optimize your listings with confidence.

By utilizing real-time insights and comparisons, hosts can ensure their spaces are priced competitively, maximizing both appeal and revenue.

It's a straightforward, yet powerful way to enhance your Airbnb hosting experience.

FAQs

Q1: What’s the difference between booked and available prices?

A: Booked prices are averages of what guests have paid while available prices are current listings still open for booking.

Q2: Can a listing be both booked and unbooked?

A: Yes, depending on the selected date range and availability during that period.

Q3: What makes a listing “similar”?

A: Similarity is determined by various factors including location, size, features, amenities and guest browsing behavior.

Q4: How often should I check my listing’s performance with this tool?

A: Regular reviews can help you stay competitive especially before peak seasons or during local events that may affect demand.

Q5: Can I see specific prices for similar listings?

A: The tool shows average prices for similar listings both booked and available providing a benchmark rather than specific figures.