Balancing use between Airbnb & VRBO for STR's 馃敟

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Balancing use between Airbnb & VRBO for STR's 馃敟

Wilson Vanhook
Rental Property Investor 路 Oklahoma City 路 Member since 2021 路 108 posts 路 103 votes
I went live with my first STR just a few weeks ago. Bought a 1 BR cabin in Broken Bow, OK. Since going live I've been doing everything I can to try and 'dominate the algorithms,' considering I'm both a new owner and new host on the platforms with 0 reviews. I would say the launch has been pretty successful to this point but I'm always looking for ways to improve.

To try and take off with the new listing I did some really low introductory pricing for August. Goal was to show the platforms that people have interest in my property, and try to get as many reviews as possible within the first month.

Immediately bookings started rolling in on Airbnb. I have a total of about 30 bookings made so far from August-December on Airbnb. In the month of August I've already had quite a few Airbnb guests and every one of them has written me a review. However, on VRBO I've only gotten 6 bookings from August-December so far. My first VRBO guest is currently there, meaning I still have 0 reviews on VRBO right now.

My question is this: Should I start focusing efforts on pushing my listing harder on VRBO? I could potentially do very low pricing for the remainder of September I have open, just for VRBO, to try and gain more traction there. But does it matter? If I'm doing okay on Airbnb so far should I even try to focus my attention on VRBO at all? From what I can tell it's not that people visiting Broken Bow are using Airbnb more than VRBO. I believe overall traffic for the area is split pretty well between the 2, maybe even favors VRBO slightly.

Does it even make sense to try and split traffic between Airbnb & VRBO? From an algorithm standpoint isn't it better to have most of your bookings on 1 platform? For instance doesn't Airbnb's algorithms view you as more 'loyal' when your calendar is filled mostly by them and thus push your listing up in the search results?

If the latter doesn't seem to be much of an issue should I try to get more VRBO traffic and create a more balanced calendar so I have popularity on 2 channels? Might enable me to raise rates and make more dollars in the future.

Let's go bring in the hot takes!! 馃敟馃敟馃敟
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Travis TimmonsPro Member
Rental Property Investor 路 Ellsworth, ME 路 Member since 2021 路 1k+ posts 路 2k+ votes
4y

I find myself in the same boat. We launched a property on July 1st, have filled up 100% of July & August, 90% of September, and 70% of October. 100% of bookings have been Airbnb. We've been up on VRBO but it just doesn't get the traffic for the market that we are in. I expected an 80/20 or 90/10-ish mix between platforms; it's been a little surprising to see zero come from VRBO. 

Our plan is to leave it alone and let the market decide. As stated above, filling the calendar is the goal. Congrats on your success.

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  • Leslie Anne Morris
    Real Estate Agent 路 Smoky Mountains, TN 路 Member since 2022 路 1k+ posts 路 984 votes
    4y

    This is a tough one and heavily debated always!  Some say to snooze the listing on one platform to book on another, but then you'll tank in the algorithm (especially if it's Airbnb).  I am with the mindset that says let what happens happen.  Your property may do better on one or the other depending on the type of property and also the type of traveler.  Not the answer you are looking for, but makes the most sense honestly.  My properties typically book better on Airbnb, but I have a couple I manage for others that are performing really well on VRBO...its all a game!

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  • Sergey A. Petrov
    Real Estate Consultant 路 Seattle, WA 路 Member since 2022 路 1k+ posts 路 784 votes
    4y

    I don鈥檛 think any of us know which algorithms those companies are using. For some people and their properties, AirBnB gets more bookings. For others, VRBO does. Not sure if it is property dependent, location, or something else. I say use them both. Set your prices where you want them to be and fill the calendar regardless of where the bookings originate

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  • John UnderwoodPro Member
    Investor 路 Greer, SC 路 Member since 2014 路 13k+ posts 路 17k+ votes
    4y

    I would discount the Vrbo listing to try and get some reviews. 

    My Airbnb bookings have gone to zero in the last 6 months. I am trying to discount some days to attempt to get just some bookings on Airbnb, no luck so far.

    0Reply
  • Wilson Vanhook
    OP
    Rental Property Investor 路 Oklahoma City 路 Member since 2021 路 108 posts 路 103 votes
    4y
    Quote from @John Underwood:

    I would discount the Vrbo listing to try and get some reviews. 

    My Airbnb bookings have gone to zero in the last 6 months. I am trying to discount some days to attempt to get just some bookings on Airbnb, no luck so far.


     Why have your Airbnb bookings gone to 0?

    0Reply
  • Wilson Vanhook
    OP
    Rental Property Investor 路 Oklahoma City 路 Member since 2021 路 108 posts 路 103 votes
    4y
    Quote from @Sergey A. Petrov:

    I don鈥檛 think any of us know which algorithms those companies are using. For some people and their properties, AirBnB gets more bookings. For others, VRBO does. Not sure if it is property dependent, location, or something else. I say use them both. Set your prices where you want them to be and fill the calendar regardless of where the bookings originate


     Yeah I agree the goal is to just get the calendar filled. But maximizing the use of how their algorithms choose to promote your listing could lead to higher rates and occupancy down the line.

    0Reply
  • Sergey A. Petrov
    Real Estate Consultant 路 Seattle, WA 路 Member since 2022 路 1k+ posts 路 784 votes
    4y
    Quote from @Wilson Vanhook:
    Quote from @Sergey A. Petrov:

    I don鈥檛 think any of us know which algorithms those companies are using. For some people and their properties, AirBnB gets more bookings. For others, VRBO does. Not sure if it is property dependent, location, or something else. I say use them both. Set your prices where you want them to be and fill the calendar regardless of where the bookings originate


     Yeah I agree the goal is to just get the calendar filled. But maximizing the use of how their algorithms choose to promote your listing could lead to higher rates and occupancy down the line.

    Your listings are brand new so are you as a host. I meant to add that you should use both for a while and then see which one is the winner that deserves more of your attention. Then adjust and pivot your strategy accordingly if things change down the road
    1Reply
  • Travis TimmonsPro Member
    Rental Property Investor 路 Ellsworth, ME 路 Member since 2021 路 1k+ posts 路 2k+ votes
    4y

    I find myself in the same boat. We launched a property on July 1st, have filled up 100% of July & August, 90% of September, and 70% of October. 100% of bookings have been Airbnb. We've been up on VRBO but it just doesn't get the traffic for the market that we are in. I expected an 80/20 or 90/10-ish mix between platforms; it's been a little surprising to see zero come from VRBO. 

    Our plan is to leave it alone and let the market decide. As stated above, filling the calendar is the goal. Congrats on your success.

    1Reply
  • Ken Boone
    Investor 路 Greenville, SC 路 Member since 2015 路 1k+ posts 路 1k+ votes
    4y

    Here is my perspective. You need to be on both platforms.  You just don't know going in which platform is going to perform better.  Most of my cabins in  the Sevierville/Pigeon Forge market are 90% VRBO (which I am really happy about)  But its the airbnb bookings that usually fill in the gaps, last minute bookings, but also brings in the worst guests.  I got another cabin just 15 further minutes out in Wears Valley.  I was expecting the same 90/10 type of thing as my other listings.  The person I bought it from said they never got any traction on VRBO on that cabin and they didn't know why it was all airbnb.  Well sure enough for whatever reason we struggled getting any VRBO bookings on that one.  It took awhile, but once we did start getting some vrbo bookings and reviews for that cabin, VRBO is now the dominant platform for that cabin as well although its more like 70/30 whereas the rest of 90/10.  I know a few other in Wears Valley that had the same experience.

    We had countless conversations with folks at VRBO while this was going on and the calls were all fruitless.  My point was VRBO was not showing my cabin in search results as often as it should, and their answer was to get some VRBO bookings and reviews and we will show it more.  Of course I'm like I can't book it if you don't show it in search results.. so it was just a circle, but like I said once we did get VRBO bookings going now its mostly VRBO.  

    Just depends what you want to do.  If you really want to build up VRBO for that listing, you are just going to have to get reviews from people staying through VRBO.  That means your pice is going to have to drop on VRBO or you have to find some other creative ways to get people to book through VRBO.  That was the only way we were able to get that one cabin in particular booking on VRBO.  And it took about a year or so to get it rolling with VRBO steady.

    So I would by no means try to force evening things out.   I would try to get your VRBO bookings up though just so you have a steady stream through that platform as well.  A lot really depends on the area you are in.  It seems like certain parts of the country are heavy one way or the other.

    1Reply
  • John UnderwoodPro Member
    Investor 路 Greer, SC 路 Member since 2014 路 13k+ posts 路 17k+ votes
    4y
    Quote from @Wilson Vanhook:
    Quote from @John Underwood:

    I would discount the Vrbo listing to try and get some reviews. 

    My Airbnb bookings have gone to zero in the last 6 months. I am trying to discount some days to attempt to get just some bookings on Airbnb, no luck so far.


     Why have your Airbnb bookings gone to 0?


     It is just not popular in my area.  Most of my neighbors with lake houses are only on Vrbo.

    0Reply
  • Ryan White
    Rental Property Investor 路 Prosper, TX 路 Member since 2021 路 11 posts 路 8 votes
    4y

    @Wilson Vanhook This is very encouraging to hear. I鈥檓 looking in the Broken Bow area and have been worried about lack of bookings. A lot of cabin calendars are pretty empty when I look on Airbnb. I have also heard other luxury cabin owners complaining of not getting bookings. It has kept me from pulling the trigger.

    0Reply
  • Wilson Vanhook
    OP
    Rental Property Investor 路 Oklahoma City 路 Member since 2021 路 108 posts 路 103 votes
    4y
    Quote from @Ryan White:

    @Wilson Vanhook This is very encouraging to hear. I鈥檓 looking in the Broken Bow area and have been worried about lack of bookings. A lot of cabin calendars are pretty empty when I look on Airbnb. I have also heard other luxury cabin owners complaining of not getting bookings. It has kept me from pulling the trigger.


     I think it depends on the cabin type and systems you put in place. We decided to go with a smaller 'honeymoon' style cabin. I think the larger cabins are being hurt more. We have focused on doing everything we can to achieve high occupancy at the smart to ensure long term success. To get to this point early on we've been giving low introductory rates. So we aren't quite at our target rate yet, but are getting good occupancy.

    We also were very particular in which cabin we chose to invest in. The owners up there are getting out of hand with their asking prices. Very few of the deals in Broken Bow are investable right now. But there are a few that you can make work. Open to giving more insight if you're interested in buying there. Just let me know.

    1Reply
  • Bruce WoodruffPro Member
    Contractor/Investor/Consultant 路 San Diego / Phoenix 路 Member since 2021 路 12k+ posts 路 15k+ votes
    4y

    Ultimately you are running a business to make a profit...so you need to be on every platform you can.

    Having said that, my experience is that VRBO is a superior platform, they don't allow someone to rent a tent in their backyard driveway, a room down the hall or an RV in the driveway. You will get a higher class guest from VRBO, so I would try to make them the dominant platform over time. And AIR customer service is bad, you rarely can understand their techs.....

    My AIR bookings have declined over the past year and my VRBO have increased, I think VRBO is doing more marketing now.

    So yes to both of them and whoever else may come along. Your ultimate goal is to have nothing but private, off-platform bookings 365 nights a year.... :-)

    0Reply
  • Nathan GesnerBusiness Member
    Moderator
    Real Estate Broker 路 Cody, WY 路 Member since 2010 路 28k+ posts 路 41k+ votes
    4y

    I don't believe in trying to force reviews to falsely elevate your rental above others. Your focus should be on booking the property. If the guests enjoy their stay and feel the experience is worth sharing, they'll share it. 

    One of my biggest complaints against AirBnB is their review/rating system. Each one I've stayed in was ranked 4.5 - 5 stars, and they definitely were not at that level. Compare most 5-star AirBnBs to a 5-star hotel and you'll see what I mean.

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  • Bruce WoodruffPro Member
    Contractor/Investor/Consultant 路 San Diego / Phoenix 路 Member since 2021 路 12k+ posts 路 15k+ votes
    4y
    Quote from @Nathan Gesner:

    One of my biggest complaints against AirBnB is their review/rating system. Each one I've stayed in was ranked 4.5 - 5 stars, and they definitely were not at that level. Compare most 5-star AirBnBs to a 5-star hotel and you'll see what I mean.

    I agree, but I think that's just the guests being nice and not due to the ranking system. But yeah, you can't compare to a true 5 star resort... :-)
    0Reply
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