Beyond's dynamic pricing tool is powered by an algorithm that's really made up of several strains of complex logic, culminating in the correct daily price for each listing. The starting point of the “algo,” which we pioneered and affectionately refer to it as, is the Base Price.
This takes into account the “value” of the property, or the average price for your listing for the year. During periods of high demand, the algo will adjust upwards from the Base Price. It b2b email list will do the same during low demand periods, lowering the price accordingly.
As pricing is all derived from the Base Price, getting it correct is very important. That’s why we even have secondary algorithms that help you set a base price based on the market and listing specific data.
As markets fluctuate—which this year has taught us in spades—it may be important to tweak the base price up or down slightly to keep the optimum price. Moving the base price is a simple way to effectively update your rates with one easy to use lever rather than trying to manipulate hundreds of rate rules.
Source: Beyond Data
The Algorithm: It Starts With the Base Price
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