Special events like the Super Bowl present an opportunity for residents of the host city to list on Airbnb and generate extra income, but how do you decide on the right price for your listing? And how do you compete with all the other new hosts who had the same idea?
Margot Lee Schmorak, CEO and Co-Founder of Hostfully, joins Jasper to answer your questions around listing for special events like the Super Bowl. They also cover the recent Airbnb blog and subsequent Forbes article about optimizing search rankings that dispelled several myths regarding what counts when it comes to Airbnb SEO.
Margot and Jasper walk through this week’s Airbnb headlines as well, discussing the Leigh Gallagher interview with Brian Chesky regarding the IPO, the new short-term rental platform called CryptoCribs, and the Asbury Park host who’s challenging new regulations in the city.
Article #1: Airbnb Finally Opens Up on How to Rise Through Its Search Rankings
Dispels myths around search rankings
Superhost status, ‘tweaking’ do not help
Visits, clicks and level of interest do matter
Search results highly personalized
Article #2: Asbury Park Homeowner Fights Airbnb Regulations
City voting to prohibit short-term rentals unless owner present
Host paying $20K in property taxes, uses Airbnb to defray cost
Gathered necessary 156 signatures, forcing city council to consider alternative
If alternative declined, issue goes to voters through referendum
Article #3: Airbnb CEO: ‘We’ll Be Ready’ for IPO
Declared halfway through two-year project in March 2017
Will be ready in 2018, but may not go public right away
Buffet advised Chesky to ‘get rich slow’
Danger in IPO too early (i.e.: Blue Apron)
Article #4: CryptoCribs: The ‘Airbnb’ for Cryptocurrency Users
Listing platform, pay with bitcoin or ethereum
Uses blockchain to store info (public)
Challenge in attracting supply and demand
Airbnb on track to make bitcoin a feature as well
Q: I live in Minneapolis, the site of the 2018 Super Bowl, and I would like to list my home on Airbnb for the event. How do I maximize my earning potential?
Beyond Pricing blog post explains massive increase in supply
Occupancy went down during Super Bowl in Houston (from 55% to 25-30%)
Guests expect to pay a lot for lodging (price increases of 50—100%)
Keep prices high to position as premium listing
List early to rack up as many reviews as possible
Consider listing on multiple platforms (including local sites)
Do your own search as potential guest to see search rankings, competition
Customize your listing for Super Bowl, brand for teams involved
Article #1: forbes.com/sites/sethporges/2017/10/30/airbnb-finally-opens-up-on-how-to-rise-through-its-search-rankings/#30ba16f31922
Airbnb Blog: Answers to Your Top Search Questions
Article #2: app.com/story/news/local/communitychange/2017/10/30/asbury-park-airbnb-regulations/796091001/
Article #3: fortune.com/2017/10/25/airbnb-ipo-public/
Article #4: btcmanager.com/cryptocribs-airbnb-for-cryptocurrency-users/
Beyond Pricing Super Bowl Blog
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Jasper: Welcome to Get Paid for Your Pad, a definitive show on Airbnb hosting, featuring the best advice on how to maximize profits from your Airbnb listing as well as real life experiences from Airbnb hosts all over the world. Welcome
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Jasper: Welcome! Another episode of Get Paid for Your Pad. Today, I’m co-hosting this news episode with Margot Schmorak, co-founder and CEO of Hostfully. So, Margot, how is it going?
Margot: Great! Thank you and welcome everybody. I’m happy to be on today.
Jasper: We did a little preparation before we started recording because we had a really interesting question from one of our listeners that we’re going to cover at the end of this episode and it’s about how to price and set yourself up for special events.