Top Airbnb Market Research Techniques & Tips on Where to Airbnb in 2022

Summary

This video offers an in-depth guide to conducting market research for Airbnb property selection, emphasizing the importance of analyzing data trends and supply availability. The host demonstrates how to utilize Airbnb's platform for free market insights, including assessing demand, identifying minimum stay requirements, and understanding guest capacity dynamics. The tutorial also explores strategies to determine pricing and uncover underserved market segments, ultimately aiming to maximize booking potential and revenue.

Takeaways

• 🔍 Conduct thorough market research before selecting a property for Airbnb to understand demand, supply, and competition.
• 📈 Utilize Airbnb's platform data for free to perform market research without needing to pay for external tools like AirDNA or Mashvisor.
• 🏠 Focus on both broad market trends and individual listing data to get a comprehensive view of the market.
• 🈵 Understand the cap on Airbnb's search results at 300 listings to gauge the sample size for your analysis.
• 📅 Search for different date ranges to determine how many listings are available for various stay lengths and identify patterns in booking availability.
• 🛏️ Analyze the number of available listings for different guest counts to find out which group sizes are underserved in the market.
• 💰 Use the price distribution chart on Airbnb to see which price points have the most listings and identify trends in booking prices.
• 📊 Compare price charts for different search parameters to see which listings are getting booked and at what prices.
• 📈 Track the booking rate over time to understand how quickly listings in different price brackets get booked up.
• 🏆 Identify underrepresented market segments, such as listings that can accommodate larger groups, to find potential opportunities.
• 📝 Keep a record of your findings in a spreadsheet to track and average out the data over time for more accurate insights.

Q & A

What is the most important step before picking up a property according to the video?

The most important step is market research, which involves analyzing data and trends to understand the demand and supply in a particular area.

What is the significance of the number '300' in the context of Airbnb search results mentioned in the video?

The number '300' represents the maximum number of search results that Airbnb displays. It's the cap for the sample size of listings that can be viewed at one time.

How can one determine the demand for listings in a particular neighborhood using Airbnb's platform?

By comparing the total number of listings in an area with the number of available listings for specific dates, one can gauge the demand. If a high percentage of listings are booked, it indicates strong demand.

What does the video suggest about the relationship between the number of guests and the availability of listings?

The video suggests that as the number of guests increases, the availability of listings decreases, indicating that larger groups may be underserved in the market.

How can the minimum length of stay affect the number of available listings?

The number of available listings can increase or decrease based on the minimum length of stay required. Some listings may only be available for longer stays, affecting the total number of options for guests.

What is the purpose of searching for different guest counts in the market research process?

Searching for different guest counts helps to identify market gaps and opportunities. For example, if there are fewer listings available for larger groups, it might indicate an underserved market segment.

Why is it beneficial to analyze the price distribution of listings in a particular area?

Analyzing the price distribution helps to understand the market's pricing strategy and identify which price points are getting booked. This can inform one's own pricing strategy to maximize bookings.

How can one use the data from Airbnb to predict future earnings potential for a listing?

By analyzing the booking patterns, price points, and availability of listings, one can estimate the potential earnings and competition in the market, helping to predict the success of a listing.

What is the advantage of being part of a community like 'Hosts of Airbnb Automated' on Facebook?

Joining a community allows hosts to share insights, discuss market research findings, and learn from each other's experiences, which can enhance understanding and decision-making.

What additional resource does the video creator offer for those interested in more in-depth market research techniques?

The video creator offers a course called 'Cracking Superos' that provides more advanced techniques and includes mentorships and live Q&A sessions.