How to Airbnb in 2025 (And Beat 99.26% of Hosts)

00:34:08
https://www.youtube.com/watch?v=WuhNvYes5RM

Zusammenfassung

TLDRThe video discusses innovative ways for Airbnb hosts to not merely follow trends but to actively embrace change and differentiate themselves for greater success by 2025. The key strategies include focusing on brand identity, ensuring consistent and authentic guest communications, leveraging unique design and theme strategies, and picking standout colors to attract potential guests. It advocates for avoiding over-reliance on AI in guest communications to maintain a human touch. The speaker also highlights the importance of market research to identify profitable opportunities, suggesting hosts should explore multi-channel platforms beyond Airbnb to maximize exposure and bookings. He stresses the significance of pricing strategy adjustments according to market demands, and the necessity to refine and adapt design styles regularly to meet changing guest preferences. Moreover, maintaining direct booking channels and diversifying listing types can drive revenue. Lastly, by fostering a strong in-house team, hosts can better control costs, enhance service quality, and build a brand culture that truly resonates with guests, ensuring sustainable business growth.

Mitbringsel

  • 💡 Focus on brand personality to ensure consistent communication with guests.
  • 🎨 Utilize unique colors and designs to make your listing stand out.
  • 🌟 Incorporate themes to create emotional connections with your guests.
  • 📈 Adapt pricing strategies according to market trends to maximize bookings.
  • 🏠 Explore different listing types and niches to capture unique audiences.
  • 🔍 Conduct thorough market research to find under-serviced areas.
  • 📣 Multi-channel marketing can broaden reach beyond just Airbnb.
  • 🤝 Maintaining a human touch in guest communications is crucial.
  • 🧹 In-house management can cut costs and improve quality control.
  • 💰 Prioritize guest experience over pure profit for long-term success.

Zeitleiste

  • 00:00:00 - 00:05:00

    The video emphasizes the importance of embracing change to stand out as a host and make more money. It starts by discussing the significance of developing a brand personality for your company. This involves understanding the 'who' of your company, ensuring brand consistency, and being cautious about over-relying on AI for customer interactions, emphasizing the importance of a human touch.

  • 00:05:00 - 00:10:00

    The discussion continues with the importance of design in making a property standout, particularly in the competitive environment of 2025. The speaker shares past experiences of failing to focus on design, explaining how color and style can significantly impact a property's attractiveness. He advises against blending in with the current trend by choosing unique styles and colors to create memorable emotional connections with guests.

  • 00:10:00 - 00:15:00

    The importance of adapting to changing styles is reiterated, emphasizing that sticking to outdated styles can hurt your competitive edge. The speaker suggests using themes as a powerful tool to attract specific guest types by creating unique, emotionally engaging spaces based on movies or distinct cultural elements. He highlights examples of creatively themed Airbnbs that successfully connected with a niche audience.

  • 00:15:00 - 00:20:00

    Continuing on the theme of differentiation, the speaker advises exploring different types of listings to stand out in the crowded market. He shares examples of adding unique features to properties, like a bubble dome on a rooftop, to create novel guest experiences and increase profitability. He stresses the value of market research to identify under service areas or listing types that could fill a demand gap.

  • 00:20:00 - 00:25:00

    The emphasis shifts to marketing and channel diversification. The video suggests listing on multiple booking platforms, including niche sites, to increase exposure and not be overly reliant on Airbnb alone. It highlights how leveraging less popular channels and focusing on direct bookings can increase revenue. Valuable advice about capitalizing on upcoming platforms and trends is provided.

  • 00:25:00 - 00:34:08

    Finally, the speaker delves into advanced pricing strategies to exploit market dynamics across different seasons. He advocates for aggressive pricing in slow seasons to secure advanced bookings and maximize revenue during peak seasons by pricing above the competition. The video emphasizes understanding the market's capacity to handle higher prices during peak demand, using the metaphor of a rising tide to illustrate the potential benefits of this strategic approach.

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Mind Map

Video-Fragen und Antworten

  • What is the main focus of the video?

    The video focuses on strategies for Airbnb hosts to embrace change, enhance their brand, and utilize creative design to stand out and increase profitability.

  • Why is brand consistency important?

    Brand consistency ensures that the company's personality aligns with its communication style, creating a cohesive and appealing experience for guests, which can lead to better reviews and long-term success.

  • How can color and design impact an Airbnb listing?

    Color and design can make a listing stand out among competitors, engage potential customers emotionally, and increase the chances of bookings by catching the eye and maintaining a unique style.

  • What is the benefit of incorporating a theme into an Airbnb?

    Themes create an emotional connection with guests, making the listing memorable and desirable, which can lead to increased bookings and potentially higher pricing.

  • How important is understanding market trends and guest preferences?

    Understanding market trends and guest preferences is crucial as it allows hosts to adapt their styles and offerings to what is currently sought after by customers, keeping the listing appealing and competitive.

  • How can hosts utilize different platforms and channels to boost bookings?

    Hosts can increase their reach and potentially their profits by listing on multiple platforms such as Airbnb, Vrbo, Booking.com, and niche sites, thereby enhancing exposure and leveraging different audiences.

  • What is 'deviation' in the context of pricing strategy?

    Deviation involves adapting pricing based on market trends and guest booking behavior, such as lowering prices in slow seasons to secure bookings and optimizing higher rates in peak seasons.

  • What is the 'blitzing' strategy?

    Blitzing is identifying and investing in up-and-coming markets or neighborhoods before they become mainstream, allowing hosts to benefit from high demand and minimal competition.

  • Why is outsourcing and in-house management discussed?

    Outsourcing can affect costs and quality; by managing in-house operations like cleaning, hosts can reduce expenses and maintain a higher standard of quality, leading to better guest satisfaction.

  • How does focusing on customer experiences improve Airbnb hosting?

    Focusing on enhancing the customer experience makes listings more desirable, builds better brand reputation, and ensures long-term success by prioritizing guest satisfaction over mere profit.

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Untertitel
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Automatisches Blättern:
  • 00:00:00
    2025 is right around the corner and we
  • 00:00:02
    need to be ready for anything but more
  • 00:00:04
    than that we need to embrace change in
  • 00:00:07
    this video here's 10 ways to not go with
  • 00:00:09
    the flow Embrace change and become the
  • 00:00:11
    host that no one else can be you'll make
  • 00:00:14
    more money than your neighbors I
  • 00:00:15
    guarantee it let's begin now guys number
  • 00:00:17
    one let's focus on your brand if you
  • 00:00:19
    don't have one yet I want you to ask
  • 00:00:21
    yourself just a couple of questions who
  • 00:00:23
    is my company not what is but who is my
  • 00:00:26
    company your company has a personality
  • 00:00:28
    the way that you communicate with your
  • 00:00:30
    guest through Messenger is essentially
  • 00:00:31
    your company you are your company there
  • 00:00:33
    but as your company grows you want it to
  • 00:00:35
    stay you or you want it to stay your
  • 00:00:38
    company which means you may not actually
  • 00:00:40
    like the way you talk to your guests you
  • 00:00:42
    might be a little grumpy sometimes you
  • 00:00:43
    should fix that but who is your company
  • 00:00:45
    is your company spunky is it fun is it
  • 00:00:47
    sophisticated does it have a lot of
  • 00:00:49
    Personality or is it dignified you want
  • 00:00:51
    to decide as a luxury brand or as a
  • 00:00:54
    boutique brand what kind of energy you
  • 00:00:56
    want your company to have developing
  • 00:00:58
    this brand personality type allows you
  • 00:01:00
    to more cohesively deliver a product and
  • 00:01:03
    a feel that makes sense together because
  • 00:01:05
    if you've got a portfolio of fun
  • 00:01:06
    properties but you're otherwise a stuffy
  • 00:01:08
    host that's just not going to fit
  • 00:01:09
    together and you need to be aware that
  • 00:01:11
    brand consistency or brand congruence
  • 00:01:14
    here is going to matter as you grow but
  • 00:01:16
    even if you have just one property these
  • 00:01:18
    types of things lead to Five Star
  • 00:01:19
    reviews so start now so when you have 10
  • 00:01:21
    or 20 properties later you don't have to
  • 00:01:23
    go back and fix this do a little soul
  • 00:01:25
    searching today and with this I am
  • 00:01:27
    cautioning you against using AI chat GPT
  • 00:01:30
    or other generative AIS to run your
  • 00:01:32
    messages for you you can use an AI or a
  • 00:01:35
    software to cut down on errors to make
  • 00:01:37
    sure that you're telling people factual
  • 00:01:38
    stuff but somebody should be making sure
  • 00:01:40
    that that message that gets sent sounds
  • 00:01:42
    like a human this is so important at
  • 00:01:44
    scale that I've actually launched a new
  • 00:01:46
    business with one of my students our
  • 00:01:47
    company Helm leverages Ai and human
  • 00:01:50
    touch to handle everything remote from
  • 00:01:52
    guest experience customer service to
  • 00:01:54
    revenue management we initially launched
  • 00:01:56
    a beta with my student base but we're
  • 00:01:57
    going public now and you can have access
  • 00:01:59
    to Helm where you can have all the
  • 00:02:01
    advantages of AI and Technology but you
  • 00:02:03
    can have it filtered through some of the
  • 00:02:05
    best humans in Hospitality to make sure
  • 00:02:07
    that your revenue is always right your
  • 00:02:08
    guest messages are always correct 24/7
  • 00:02:11
    and they never get a wrong answer or the
  • 00:02:13
    wrong response if you want to learn more
  • 00:02:15
    about Helm there's a link down in the
  • 00:02:17
    description below I'll see you there but
  • 00:02:18
    number two actually two three and four
  • 00:02:21
    are all going to be in the same bucket
  • 00:02:23
    and that bucket is design design I
  • 00:02:25
    really think is the most important part
  • 00:02:27
    for a property now in 2025 and let me
  • 00:02:30
    give you a little backstory I started in
  • 00:02:32
    2014 and my first airbnbs they looked
  • 00:02:35
    nothing special there's a couch coffee
  • 00:02:37
    table TV there's a bed kitchen stuff and
  • 00:02:39
    guest even said in 2015 or 16 someone
  • 00:02:42
    called my listing Stark not Game of
  • 00:02:45
    Thrones Stark but like empty Stark like
  • 00:02:47
    Barren and I learned my lesson there and
  • 00:02:49
    started to focus on making my places
  • 00:02:51
    look a little bit more fun but that's
  • 00:02:53
    come a long way 10 years ago you did not
  • 00:02:56
    need design because airbnb's offering in
  • 00:02:58
    itself of just not staying in a Hotel
  • 00:03:00
    was cool enough but there's too many
  • 00:03:01
    listings now and there's too many
  • 00:03:03
    listings that are more of the same a lot
  • 00:03:04
    of white a lot of blue a lot of gray a
  • 00:03:07
    lot of basic and because there's so much
  • 00:03:09
    Supply the quickest way to get to the
  • 00:03:10
    top is to not be basic like everybody
  • 00:03:13
    else to deviate from the massive Supply
  • 00:03:16
    on Airbnb and go do your own thing is
  • 00:03:18
    going to be the way that you make money
  • 00:03:19
    so one of the three ways that you can do
  • 00:03:21
    this on Airbnb is first pick a color
  • 00:03:23
    pick any color that is not the same as
  • 00:03:26
    your competitors I for example made a
  • 00:03:28
    place that is completely Orange one of
  • 00:03:30
    my favorite listings in Dubai is
  • 00:03:31
    completely pink and these listings use a
  • 00:03:33
    lead color to catch the eye while
  • 00:03:35
    everyone is scrolling through Airbnb on
  • 00:03:37
    map view there's going to be the map
  • 00:03:39
    view on one side and a column of three
  • 00:03:41
    listings wide on the other as people
  • 00:03:42
    scroll through and as listings are all
  • 00:03:44
    the same white gray and blue if one is
  • 00:03:46
    orange or black or yellow it'll stand
  • 00:03:49
    out that thumbnail will pop the hero
  • 00:03:51
    photo will pop and you'll get a click an
  • 00:03:53
    airbnb's funnel feeds their algorithm
  • 00:03:55
    the more clicks you get the more views
  • 00:03:56
    you get the longer people hang out on
  • 00:03:58
    your listing the more you go up and
  • 00:04:00
    search we want those clicks so picking a
  • 00:04:02
    color alone will get you more clicks but
  • 00:04:05
    also color is a companion for the rest
  • 00:04:07
    of your design your color and number
  • 00:04:09
    three your style will allow you to
  • 00:04:11
    create your space or the feel it kind of
  • 00:04:13
    feeds back into brand if you're a fun
  • 00:04:15
    brand you want fun listings you want a
  • 00:04:17
    funl looking couch if you're a
  • 00:04:19
    sophisticated brand you want a modern
  • 00:04:21
    contemporary architectural digest style
  • 00:04:23
    listing you want stuff that's really
  • 00:04:24
    clean and Powerful perhaps right there's
  • 00:04:27
    no one way to skin a cat here but I want
  • 00:04:29
    to focus on on a part of this that we
  • 00:04:30
    really haven't discussed as much on this
  • 00:04:32
    channel as we should which is the
  • 00:04:33
    concept that style is one of the
  • 00:04:35
    fast-paced innovational changes sorry to
  • 00:04:38
    say that in a weird way but it's one of
  • 00:04:39
    the fast-paced parts of this industry
  • 00:04:41
    people in real estate move slow it's
  • 00:04:43
    traditional it's an easy way to make
  • 00:04:45
    money people will pick a style or design
  • 00:04:48
    style for their listing and it will stay
  • 00:04:49
    that way for a decade they'll have
  • 00:04:52
    mid-century modern or they'll have
  • 00:04:53
    rustic Farmhouse and it'll just stay
  • 00:04:55
    that way but things change what people
  • 00:04:58
    likes change and of course you're to
  • 00:04:59
    replace your furniture every 3 to 5
  • 00:05:01
    years most likely so you should be
  • 00:05:03
    prepared to change as people's
  • 00:05:05
    preferences change style can Trend
  • 00:05:08
    people can like certain things a couple
  • 00:05:10
    years ago there's a Scandinavian
  • 00:05:12
    crossover design that had really dark
  • 00:05:13
    walls that everybody loved it's still
  • 00:05:15
    relevant today but also today people
  • 00:05:17
    like japandi for example but 5 10 years
  • 00:05:20
    ago nobody was doing japandi on Airbnb
  • 00:05:22
    people were all doing rustic farmhouse
  • 00:05:24
    in mid-century modern we need to be
  • 00:05:26
    willing to adapt from boho to
  • 00:05:28
    Scandinavian to japandi to what whatever
  • 00:05:30
    is next to chase the money if you can
  • 00:05:32
    have a style that everybody loves you'll
  • 00:05:34
    be top of the algorithm and you'll be
  • 00:05:36
    first booked all the time because Airbnb
  • 00:05:39
    loves oneofone listings so to stay new
  • 00:05:41
    to stay fresh Airbnb will constantly
  • 00:05:43
    feed you while everybody else is stuck
  • 00:05:45
    with their 7-year-old design style that
  • 00:05:47
    nobody really likes but they'll book it
  • 00:05:48
    if they have to your style can create an
  • 00:05:50
    emotional connection that punches
  • 00:05:52
    through the industry punches through the
  • 00:05:54
    noise and gets you booked and number
  • 00:05:56
    four still in design is theme you can
  • 00:05:59
    use theme to to deviate where a design
  • 00:06:00
    Style just doesn't do enough and there
  • 00:06:02
    are some markets where themes obviously
  • 00:06:04
    make a lot of sense Airbnb hosts will
  • 00:06:06
    buy a house in kissamee Florida next to
  • 00:06:08
    Disney and they'll make a Moana theme or
  • 00:06:10
    a Marvel theme property I did a video on
  • 00:06:13
    10 tips for theme that you should watch
  • 00:06:15
    if you're serious about doing themes
  • 00:06:17
    because there's a lot to talk about here
  • 00:06:19
    but the power of a theme is the
  • 00:06:21
    emotional connection that you can make
  • 00:06:23
    with a customer and themes don't just
  • 00:06:24
    have to be a movie next to Disney themes
  • 00:06:27
    could be based on a movie still but
  • 00:06:28
    anywhere for reason like pop culture you
  • 00:06:30
    could make an Airbnb Barbie house from
  • 00:06:32
    the new movie or Ken's Mojo Dojo Casa
  • 00:06:35
    house for example one of my friends had
  • 00:06:37
    a highrise that he made this very
  • 00:06:39
    masculine engineering forward
  • 00:06:40
    Aeronautics forward themed space that
  • 00:06:43
    was for Pilots or anybody who worked in
  • 00:06:44
    the airline industry and it was full of
  • 00:06:46
    all this cool artwork and history about
  • 00:06:48
    the airline industry the first jet
  • 00:06:49
    engine and Rolls-Royce and all this
  • 00:06:51
    other stuff he had this really cool
  • 00:06:52
    model plane in the living room and this
  • 00:06:54
    leather ottoman at the foot of the bed
  • 00:06:55
    and some parts of the apartment had this
  • 00:06:57
    really clean powerful look and other
  • 00:06:58
    parts had this edgy looked like you're
  • 00:07:00
    going on a bombing run like Bomber
  • 00:07:01
    leather jacket style design but it was
  • 00:07:03
    all encompassing and it was really
  • 00:07:05
    really cool and he made a lot of money
  • 00:07:07
    for a good period of time these Design
  • 00:07:09
    Elements all come together to sell a
  • 00:07:11
    belief when somebody sees your listing
  • 00:07:13
    effort they want to see that the host
  • 00:07:15
    cares that the host has passion and that
  • 00:07:16
    there's effort in the listing interior
  • 00:07:18
    design show somebody that you care about
  • 00:07:20
    your space and you put in effort themes
  • 00:07:22
    do the same but with this extra level of
  • 00:07:24
    nuance that speaks to a specific group
  • 00:07:26
    type that will resonate with the theme
  • 00:07:28
    at the core what we're trying to to do
  • 00:07:30
    is reach past all of the other listings
  • 00:07:31
    on Airbnb and be the one that gets seen
  • 00:07:34
    but be the one that gets seen in an
  • 00:07:36
    emotional way where people have an
  • 00:07:37
    emotional connection with your listing
  • 00:07:39
    and that's why they book your listing
  • 00:07:41
    and when they do it emotionally they
  • 00:07:43
    will pay more money they'll pay a lot
  • 00:07:45
    more money and number five we can
  • 00:07:47
    continue to deviate and cut through the
  • 00:07:49
    Noise by focusing on listing types now
  • 00:07:51
    there's apartments there's condos
  • 00:07:53
    there's houses but there's also tree
  • 00:07:54
    houses there's Mansions there's Yurts
  • 00:07:56
    and cottages and farms and bubble domes
  • 00:07:59
    and all of this other stuff on Airbnb
  • 00:08:01
    now your area may not be able to take
  • 00:08:02
    advantage of this but surprisingly your
  • 00:08:04
    area may be able to I have a few
  • 00:08:07
    students in Dallas that have town homes
  • 00:08:08
    that have rooftops one of my students
  • 00:08:10
    picked up a failing townhouse from an
  • 00:08:12
    operator that was quitting we've all
  • 00:08:14
    seen that right people quitting Airbnb
  • 00:08:16
    they're everywhere this person came to
  • 00:08:18
    me and said I want to pick up this town
  • 00:08:19
    home but I don't know if I can make it
  • 00:08:21
    profitable let me know how profitable it
  • 00:08:23
    is now we did the market research they
  • 00:08:25
    were not making nearly enough money to
  • 00:08:27
    justify the space but the space had very
  • 00:08:29
    clear disadvantages they didn't have any
  • 00:08:31
    good theme there's no color in the
  • 00:08:33
    living room the bedrooms were a little
  • 00:08:35
    under furnished so they looked a little
  • 00:08:36
    Stark and then the rooftop they did
  • 00:08:39
    absolutely nothing with it but it had a
  • 00:08:40
    downtown view so I told them what you
  • 00:08:42
    need to do is add a bubble Dome like a
  • 00:08:45
    stargazing Dome upstairs that can sleep
  • 00:08:47
    two people on the roof it'll add to your
  • 00:08:50
    sleep count and it'll be a really cool
  • 00:08:52
    experience up top nobody else in Dallas
  • 00:08:54
    has a bubble Dome on the roof so do it
  • 00:08:56
    they did that added a coat of paint to
  • 00:08:58
    the living room to make it look more fun
  • 00:09:00
    a little bit more decor and artwork and
  • 00:09:02
    maybe spent $500 on the bedrooms and
  • 00:09:04
    that was it they now make $4,000 more
  • 00:09:07
    per month on the same listing with the
  • 00:09:09
    same Furniture almost the same exact
  • 00:09:11
    place for maybe an extra $4,000 to
  • 00:09:13
    $6,000 invested on the way in and the
  • 00:09:16
    reason why this happens is like I said
  • 00:09:17
    there's a heat there's a band of
  • 00:09:19
    listings and they all have a similar
  • 00:09:21
    quality and similar price point they all
  • 00:09:23
    had a similar amount of money it cost to
  • 00:09:25
    start them too let's say there's 3,000
  • 00:09:27
    listings that all cost $20,000 to get
  • 00:09:29
    started on Airbnb well let's say you
  • 00:09:31
    spent an extra $5,000 and you suddenly
  • 00:09:33
    get out of that heat it's almost as if
  • 00:09:34
    you entered a new level of quality a new
  • 00:09:36
    Stratosphere where there are less
  • 00:09:38
    listings up there because there's less
  • 00:09:39
    listings that gave that effort or less
  • 00:09:42
    listings that were willing to get that
  • 00:09:43
    creative you could spend just a few
  • 00:09:46
    thousand dollar more just like the book
  • 00:09:47
    The Tipping Point by Malcolm Gladwell
  • 00:09:49
    and suddenly have completely different
  • 00:09:51
    results because you were going to get no
  • 00:09:53
    new results until you broke through that
  • 00:09:55
    layer now you don't know for sure where
  • 00:09:57
    that layer is until you do some market
  • 00:09:58
    research and develop a good thesis as to
  • 00:10:01
    why you think other listings are failing
  • 00:10:03
    and come up with a plan to get ahead and
  • 00:10:05
    bubble domes on the roof or green houses
  • 00:10:07
    on the roof or a yurt on the roof or a
  • 00:10:09
    hot tub on the roof or all these
  • 00:10:10
    different things in Dallas they pay
  • 00:10:13
    money for those experiences and that was
  • 00:10:14
    nerdy but what we just did is we took
  • 00:10:16
    one listing type town home and we added
  • 00:10:18
    another listing type on the roof bubble
  • 00:10:20
    Dome yurt Greenhouse you can add those
  • 00:10:23
    and now your listing type might actually
  • 00:10:25
    show up on an Airbnb category for bubble
  • 00:10:27
    Domer Greenhouse but in downtown Dallas
  • 00:10:29
    how's that for a hack now without
  • 00:10:31
    getting that complex you could focus on
  • 00:10:34
    underserviced listing types you could
  • 00:10:35
    just focus on having more houses in a
  • 00:10:37
    place that doesn't have enough houses
  • 00:10:39
    you could focus on doing stargazing
  • 00:10:41
    domes in the middle of nowhere you do
  • 00:10:43
    market research to see where people are
  • 00:10:45
    traveling to from in between maybe and
  • 00:10:47
    get a plot of land somewhere off of
  • 00:10:48
    Route 66 and make some bubble domes you
  • 00:10:51
    could do that I'm not going to guarantee
  • 00:10:53
    it's going to work but my intuition says
  • 00:10:55
    if I was going to do a glamping
  • 00:10:56
    experience I would focus on something
  • 00:10:58
    like that my market research would
  • 00:10:59
    validate it and that would go buy some
  • 00:11:01
    land and put up some bubble dones we can
  • 00:11:03
    find out what people like on Airbnb just
  • 00:11:05
    by going to airbnb's platform and seeing
  • 00:11:07
    what they're pushing day-to-day
  • 00:11:09
    obviously airbnb's algorithm runs on
  • 00:11:11
    data that we don't get to see but if
  • 00:11:12
    Airbnb is pushing listings they're
  • 00:11:14
    pushing them for a reason aren't they so
  • 00:11:16
    look at airbnb's landing page just
  • 00:11:18
    search around and see what they're
  • 00:11:19
    posting Airbnb is telling us what people
  • 00:11:22
    want loud and clear let's just copy
  • 00:11:24
    those and so those listing types that
  • 00:11:26
    show up on search for no good reason but
  • 00:11:28
    the fact that we type airbnb.com go
  • 00:11:30
    those listing types will pay you and
  • 00:11:33
    start doing research to find out why and
  • 00:11:35
    where those listing types will pay
  • 00:11:37
    number six my friends it is one worth
  • 00:11:39
    repeating because we've said it for the
  • 00:11:41
    last 3 or 4 years you do need to deviate
  • 00:11:43
    by going multi- Channel but again it
  • 00:11:45
    gets deeper doesn't it it's not just
  • 00:11:47
    verbo it's not just booking.com but I'll
  • 00:11:49
    tell you those are the two main ones you
  • 00:11:51
    should consider anybody who's on Airbnb
  • 00:11:54
    should either be on verbo or booking.com
  • 00:11:57
    depending on their market like in areas
  • 00:11:58
    like Denver or Miami Fort Lauderdale or
  • 00:12:01
    Boston Philadelphia or Portland some of
  • 00:12:04
    these are verbo markets but some of them
  • 00:12:06
    are booking.com markets and you need to
  • 00:12:08
    find that out and you can find that out
  • 00:12:10
    by joining both and then finding out
  • 00:12:12
    which one gives you more business the
  • 00:12:13
    way we do Revenue management is informed
  • 00:12:15
    by where we expect to get our bookings
  • 00:12:17
    but if you're only getting bookings from
  • 00:12:19
    Airbnb you'd have to ultimately lower
  • 00:12:21
    your price more to get enough bookings
  • 00:12:23
    to fill your calendar if booking.com or
  • 00:12:25
    verbo gave you just as much bookings as
  • 00:12:27
    Airbnb in the market then you could keep
  • 00:12:29
    higher prices with twice as much
  • 00:12:31
    exposure and get a full calendar right
  • 00:12:33
    so to go multi Channel allows you to
  • 00:12:35
    make more money per night because you're
  • 00:12:36
    getting more listing Impressions on the
  • 00:12:38
    internet it just makes common sense but
  • 00:12:40
    more than this this is the stuff we've
  • 00:12:42
    already talked about and if you've seen
  • 00:12:43
    that content before thank you so much
  • 00:12:44
    for sticking around this long on my
  • 00:12:46
    channel I really appreciate it if you're
  • 00:12:47
    new here please subscribe because we
  • 00:12:49
    talk about the good stuff all the time
  • 00:12:51
    you don't want to miss a video if you're
  • 00:12:52
    a host it's a highly competitive
  • 00:12:54
    industry and I'm here to teach you how
  • 00:12:56
    to be the best and so on that note also
  • 00:12:58
    if you find this video and it's
  • 00:13:00
    information valuable the best thing that
  • 00:13:02
    you can give me is a like it helps the
  • 00:13:04
    video perform and move on it's the way
  • 00:13:06
    that I make my way here on YouTube is
  • 00:13:08
    giving you stuff you like and you liking
  • 00:13:10
    it if you do so thank you but back into
  • 00:13:13
    channels there are Niche channels that
  • 00:13:15
    might serve you so very well that no one
  • 00:13:18
    else is putting you on you should
  • 00:13:19
    absolutely book direct and I'm going to
  • 00:13:21
    put a link Down Below in the description
  • 00:13:23
    of the video or the comments where you
  • 00:13:25
    can learn to book direct and start
  • 00:13:26
    making moves there because direct
  • 00:13:28
    bookings allow you to get bookings
  • 00:13:30
    without paying OTAs Airbnb verbo they're
  • 00:13:33
    online travel agencies otaa and they
  • 00:13:35
    charge you money and if you can get
  • 00:13:37
    booked at the same price but not pay
  • 00:13:39
    somebody a fee you just keep more money
  • 00:13:41
    and yes you might have some questions
  • 00:13:43
    about whether you would feel safe
  • 00:13:44
    because of insurances and stuff but down
  • 00:13:47
    below let's begin that Journey for
  • 00:13:48
    direct bookings and we can answer your
  • 00:13:50
    questions on Direct bookings down there
  • 00:13:52
    as you make a decision on if you want to
  • 00:13:54
    but in the meantime you can look at
  • 00:13:56
    things like furnish finder or bring phto
  • 00:13:58
    or Copa or all of these other little
  • 00:14:01
    nuanced Boutique listing sites also
  • 00:14:04
    booking direct through Facebook
  • 00:14:05
    Marketplace stuff like that in slow
  • 00:14:07
    season to get monthly bookings which is
  • 00:14:10
    my slow season strategy is to get
  • 00:14:12
    monthly bookings before anybody realizes
  • 00:14:14
    they're in slow season my inventory is
  • 00:14:16
    gone and booked there's stuff like that
  • 00:14:18
    that you can do finding upcoming
  • 00:14:19
    channels that are spending a ton of
  • 00:14:21
    money on Advertising to get customers
  • 00:14:23
    but don't have enough hosts to fill the
  • 00:14:25
    space you can sometimes get some really
  • 00:14:27
    good traffic and traction because these
  • 00:14:30
    companies are trying to grow to compete
  • 00:14:31
    with Airbnb they've got investors
  • 00:14:34
    spending money on ad spend spending
  • 00:14:35
    money on growth and they need you to
  • 00:14:38
    sell anything and so once they have you
  • 00:14:40
    on their roster they're going to try to
  • 00:14:41
    get you bookings because they want you
  • 00:14:43
    to stay and they need the revenue they
  • 00:14:44
    make the revenue from guests paying for
  • 00:14:46
    your place so yes upcoming peer-to-peer
  • 00:14:49
    platforms could make you some really
  • 00:14:50
    good money and it also allows you to
  • 00:14:52
    bypass whether or not Airbnb is having a
  • 00:14:54
    bad brand day cuz bad stuff in the news
  • 00:14:56
    suddenly people don't book on Airbnb
  • 00:14:58
    they go to verbo or they go to bring Pho
  • 00:15:00
    or wherever they go so find other places
  • 00:15:02
    because Airbnb may not always be on
  • 00:15:05
    everybody's nice list this holiday
  • 00:15:07
    season now number seven is why I made
  • 00:15:09
    this video and it makes total sense guys
  • 00:15:11
    it's price it's Revenue deviation this
  • 00:15:14
    is so nerdy and I apologize in advance
  • 00:15:17
    guys for this deviation is this really
  • 00:15:18
    cool game theory concept exploitative
  • 00:15:21
    play If you guys don't know yet I love
  • 00:15:24
    nerdy stuff like this and I've been
  • 00:15:25
    playing poker a lot lately and so poker
  • 00:15:28
    and pricing strategy they kind of blend
  • 00:15:29
    here let's use rock paper scissors
  • 00:15:31
    though instead of Poker as an example
  • 00:15:33
    there's only three things you can throw
  • 00:15:34
    rock paper or scissors now what happens
  • 00:15:36
    if you're competing against somebody and
  • 00:15:38
    they throw scissors every time what are
  • 00:15:40
    you going to do to win you throw rock
  • 00:15:42
    right cuz you always beat scissors so
  • 00:15:44
    this concept of exploiting something
  • 00:15:45
    that you know is going to happen is the
  • 00:15:47
    same thing we can do in price see in
  • 00:15:49
    slow season there will be thousands of
  • 00:15:52
    more listings than there are guests to
  • 00:15:54
    book but we also know that guests can
  • 00:15:57
    look 3 6 9 12 in advance for places to
  • 00:16:00
    stay so my students we always have our
  • 00:16:03
    listings on sale in slow season always
  • 00:16:06
    calendar is open years in advance and
  • 00:16:08
    our slow season prices are priced to
  • 00:16:11
    move and we're trying to get bookings we
  • 00:16:12
    are incentivizing 6 we 8 we 10 week long
  • 00:16:15
    stays with big discounts because if we
  • 00:16:17
    can get somebody to take that
  • 00:16:19
    reservation for 8 weeks and just cover
  • 00:16:21
    January February we no longer have to
  • 00:16:23
    put any effort into fixing that later
  • 00:16:25
    and so this is another concept I want
  • 00:16:27
    you to think about how much money do do
  • 00:16:29
    you make but how hard do you have to
  • 00:16:30
    work to make it and if you've ever been
  • 00:16:32
    in the middle of slow season with an
  • 00:16:34
    empty calendar you're working hard and
  • 00:16:36
    you are stressed and being stressed is
  • 00:16:38
    not good for running a good business
  • 00:16:40
    it's not good for being creative if
  • 00:16:42
    before your competition knew that they
  • 00:16:43
    were supposed to deviate before they
  • 00:16:45
    knew that they should drop their rates
  • 00:16:46
    because there's not enough business if
  • 00:16:48
    you were already down there fighting for
  • 00:16:50
    bookings and getting booked by the time
  • 00:16:53
    everyone woke up to the alarm bells of
  • 00:16:55
    winter is coming you'd have a booking
  • 00:16:57
    and you wouldn't have to worry about it
  • 00:16:58
    deviation does go the other way let's
  • 00:17:00
    say in peak season everything's going to
  • 00:17:02
    get booked why price under your
  • 00:17:03
    competition why do it why not get a
  • 00:17:05
    little greedy price 20% more than your
  • 00:17:08
    competition always in peak season and
  • 00:17:10
    then watch your competition get gobbled
  • 00:17:12
    up like a Pac-Man game and if everything
  • 00:17:14
    is getting booked really fast you can be
  • 00:17:16
    confident that your high price will
  • 00:17:18
    probably get gobbled up too it's like
  • 00:17:20
    the rising tide and you're up here and
  • 00:17:22
    as long as the water keeps moving up
  • 00:17:24
    it'll grab you eventually so this is a
  • 00:17:26
    fun game that you have to monitor your
  • 00:17:27
    price could be legitimately too high and
  • 00:17:30
    if you find that people are not booking
  • 00:17:32
    fast enough to book your place you'll
  • 00:17:34
    then have to calibrate your booking
  • 00:17:36
    prices back down to something more
  • 00:17:37
    reasonable but why not shoot for the
  • 00:17:40
    moon if it's possible that everybody
  • 00:17:42
    would get booked imagine a Taylor Swift
  • 00:17:44
    concert everything gets booked
  • 00:17:46
    absolutely everything and let's say
  • 00:17:48
    you're double your normal rate or triple
  • 00:17:50
    your home is normally 500 a night you're
  • 00:17:52
    doing 2,000 you're so greedy aren't you
  • 00:17:54
    but you did it and the only things left
  • 00:17:57
    because everything else got booked is
  • 00:17:58
    your your $2,000 house the 8-bedroom
  • 00:18:00
    Mansion down the street that's 6,000 a
  • 00:18:03
    night and the roach motel the the nights
  • 00:18:05
    in or the Red Roof in and they are $800
  • 00:18:08
    a night for a little dingi hotel room
  • 00:18:10
    somebody will absolutely book your
  • 00:18:12
    three-bedroom or four-bedroom house for
  • 00:18:14
    2,000 a night because they refuse to
  • 00:18:16
    book the Red Roof in for 800 they'll do
  • 00:18:18
    that they don't have the money for
  • 00:18:19
    mcmansion but they have the money for
  • 00:18:21
    you and this is a win for deviation I
  • 00:18:23
    encourage you to use this logical
  • 00:18:25
    approach to seasonality and if you want
  • 00:18:27
    me to teach you Revenue management of
  • 00:18:28
    course I'll teach you it's one of my
  • 00:18:30
    favorite topics my students have made
  • 00:18:32
    billions that's with a B over a billion
  • 00:18:34
    dollars in short-term rentals from my
  • 00:18:36
    coaching so down below there's a link to
  • 00:18:38
    cracking superos just talk to my team no
  • 00:18:40
    obligation no pitch if you don't want to
  • 00:18:42
    get pitched you just want to ask some
  • 00:18:44
    questions we'll just talk to you you
  • 00:18:45
    might find that you want to join
  • 00:18:46
    cracking superos and I would love to
  • 00:18:47
    have you but no pressure okay I will be
  • 00:18:50
    here teaching you for free no matter
  • 00:18:52
    what let's move on to number eight okay
  • 00:18:53
    I made a mistake I got a little carried
  • 00:18:55
    away number eight was supposed to be
  • 00:18:56
    slow season I'm going to give you a
  • 00:18:58
    bonus number 10 since we just did two in
  • 00:19:00
    one there number eight is Market deviate
  • 00:19:02
    which markets you are in and market
  • 00:19:04
    research can tell you where there's not
  • 00:19:06
    enough hosts but way too many guests and
  • 00:19:08
    this is really fun I mentioned something
  • 00:19:10
    called blitzing on Instagram if you guys
  • 00:19:12
    saw that video comment down below I want
  • 00:19:14
    to know if you're also on my Instagram
  • 00:19:15
    if you're not there's a link down below
  • 00:19:17
    let me throw this over here blitzing is
  • 00:19:19
    the concept of finding markets that
  • 00:19:20
    hotels don't exist in this might
  • 00:19:22
    actually be the first time I've talked
  • 00:19:23
    about this at length for free by the way
  • 00:19:25
    so strap in guys in Houston East
  • 00:19:27
    downtown 2010 10 you would make a
  • 00:19:29
    killing because East downtown was scary
  • 00:19:32
    no one wanted to be there in the late
  • 00:19:34
    '90s but then people started to buy
  • 00:19:36
    houses and renovate them and people
  • 00:19:39
    started to clean up the neighborhoods
  • 00:19:40
    and make it really nice and East
  • 00:19:42
    downtown is just over the highway from
  • 00:19:43
    Georgia or brown Center and minimade
  • 00:19:45
    park in the Toyota Center that's right
  • 00:19:47
    there on the other side if you went West
  • 00:19:49
    instead of East two blocks the hotels
  • 00:19:51
    are $2800 a night but no one would dare
  • 00:19:55
    go east of the highway until now and so
  • 00:19:57
    for about five solid years or more you
  • 00:19:59
    could have Airbnb houses that were cheap
  • 00:20:01
    to buy or cheap to rent that were just
  • 00:20:04
    as close to the George R Brown or Toyota
  • 00:20:06
    as the Marriott or the haat were and
  • 00:20:09
    that is crushing it I talk about a
  • 00:20:11
    concept called radial proximity from
  • 00:20:13
    points of interest so a point draw a
  • 00:20:15
    circle any distance from that point is
  • 00:20:17
    valuable no matter if it's in the nice
  • 00:20:19
    neighborhood or the not nice
  • 00:20:20
    neighborhood people who are transient
  • 00:20:22
    are a little more flexible with the
  • 00:20:25
    neighborhoods because people aren't
  • 00:20:27
    considering school systems or crime
  • 00:20:29
    rates as much as you think that they are
  • 00:20:30
    as opposed to if they were moving there
  • 00:20:32
    if a family moved to East downtown
  • 00:20:34
    they'd have a lot of questions but
  • 00:20:35
    someone traveling to the George R Brown
  • 00:20:37
    Center for 3 days they don't have the
  • 00:20:39
    same questions so people would book
  • 00:20:41
    there because the price was good and the
  • 00:20:43
    listing was good they'd find out maybe
  • 00:20:45
    that they didn't like the neighborhood
  • 00:20:46
    so much and worst thing you get is maybe
  • 00:20:47
    a three or four star review sometimes
  • 00:20:49
    but gosh for the profit I'll take a
  • 00:20:52
    three star review any day of the week if
  • 00:20:54
    I can just make another $10 million on
  • 00:20:56
    Airbnb I'll take it thanks what do you
  • 00:20:58
    think another example would be Fishtown
  • 00:21:00
    Northern Liberties I think this one is
  • 00:21:01
    even more dramatic but I made a killing
  • 00:21:03
    in Philadelphia starting in 2018 because
  • 00:21:06
    Fishtown and Northern Liberties became
  • 00:21:08
    super hipster and super fun great
  • 00:21:10
    restaurants on the water really cool
  • 00:21:12
    culture not far from Center City or
  • 00:21:15
    Chinatown or written house or anywhere
  • 00:21:16
    else that people wanted to be but there
  • 00:21:19
    were no hotels absolutely none because
  • 00:21:22
    Kensington is the neighborhood that
  • 00:21:24
    there's a TV show about that the
  • 00:21:26
    neighborhood is so dangerous that even
  • 00:21:28
    the police don't go there some areas are
  • 00:21:30
    still so bad that the police just don't
  • 00:21:32
    want to be there and so on this upswing
  • 00:21:34
    of turning one of the most dangerous
  • 00:21:36
    neighborhoods in the country into an
  • 00:21:37
    Airbnb Gold Mine hotels did not exist
  • 00:21:40
    for years and this is the concept of
  • 00:21:43
    blitzing finding neighborhoods on the
  • 00:21:45
    upswing whether it's a vacuum of hotels
  • 00:21:48
    because they would have never built a
  • 00:21:49
    hotel there and you can get there 3
  • 00:21:51
    years before a hotel ever gets its first
  • 00:21:53
    customer and you can make so much money
  • 00:21:55
    that's just one form of deviating to a
  • 00:21:57
    market where customers and hosts aren't
  • 00:21:59
    you can follow migration patterns cities
  • 00:22:01
    that are growing super fast because of
  • 00:22:03
    business immigration or immigration you
  • 00:22:05
    could say places that are deflating go
  • 00:22:07
    bad for a while and then you can wait
  • 00:22:08
    for them to start to come back in like
  • 00:22:10
    maybe San Francisco at one point in time
  • 00:22:12
    would become a really good play because
  • 00:22:13
    everybody moved away and if they clean
  • 00:22:15
    up the city and everybody starts to come
  • 00:22:17
    back the real estate might be cheap
  • 00:22:19
    enough at that point and the margins
  • 00:22:21
    could be good same thing with places
  • 00:22:22
    like Portland for example these could be
  • 00:22:24
    cool areas if you timed it right and we
  • 00:22:27
    just had a volatile election year didn't
  • 00:22:28
    we where people could change States
  • 00:22:30
    again Co caused people to move politics
  • 00:22:33
    will cause people to move people may
  • 00:22:34
    move for this reason and pardon me for
  • 00:22:36
    bringing it up I don't want to be
  • 00:22:37
    controversial on this channel but Row
  • 00:22:39
    versus Wade right bringing the power
  • 00:22:41
    back into the states where every state
  • 00:22:43
    will have their own policies and laws
  • 00:22:44
    for stuff that people really care about
  • 00:22:46
    people may leave Georgia or Texas for
  • 00:22:48
    example or may move to Georgia or Texas
  • 00:22:50
    or whatever because they align with or
  • 00:22:53
    do not align with with the state level
  • 00:22:55
    laws and so because of this you can see
  • 00:22:58
    cities growing really quickly or
  • 00:23:00
    deflating really quickly and that
  • 00:23:02
    movement is transient to some degree
  • 00:23:04
    people may stay at your Airbnb while
  • 00:23:06
    they case out a city that they might
  • 00:23:08
    want to live in for example maybe people
  • 00:23:10
    want to move to Colorado or Wyoming or
  • 00:23:12
    South Carolina they just want to move to
  • 00:23:14
    a different state and they want to see
  • 00:23:15
    what the city is like before they move
  • 00:23:17
    there they'll stay in an Airbnb so
  • 00:23:19
    taking advantage of election years where
  • 00:23:20
    people may move now because of politics
  • 00:23:22
    you could get ahead of it and make money
  • 00:23:25
    being where the customers are going but
  • 00:23:26
    hosts aren't there yet another point for
  • 00:23:28
    Market deviation is some markets have
  • 00:23:30
    hosts and have guests sure but there's
  • 00:23:33
    not good hosts they're just not good
  • 00:23:34
    enough they don't do good design they
  • 00:23:36
    don't provide a good product or service
  • 00:23:38
    they're just there doing their thing
  • 00:23:40
    it's like fashion has an evolution and
  • 00:23:42
    New York gets it first or La gets it
  • 00:23:44
    first and then everybody else gets it
  • 00:23:46
    later it's kind of like that Miami
  • 00:23:48
    Dallas Chicago Dubai they all get The
  • 00:23:50
    Cutting Edge of airb be Innovation and
  • 00:23:53
    hospitality and the Midwest gets it
  • 00:23:55
    later for example so you could go
  • 00:23:57
    somewhere where it just hasn't caught up
  • 00:23:59
    yet and you could be the best host in an
  • 00:24:02
    area one of my students is a lawyer and
  • 00:24:04
    he wanted to leave his career working
  • 00:24:05
    over 100 hours a week and I told him at
  • 00:24:07
    that time this is late advice four years
  • 00:24:10
    too late by the way I told him right now
  • 00:24:12
    go to Birmingham Alabama because I did
  • 00:24:15
    my market research and it was hot he
  • 00:24:17
    went there and he crushed it instantly
  • 00:24:19
    landlords never heard of this they said
  • 00:24:20
    yes to Arbitrage he had 18 or 20 Doors
  • 00:24:23
    within four months he was making
  • 00:24:24
    $200,000 a year net profit quit his job
  • 00:24:27
    at his Law Firm Home Free ever since
  • 00:24:30
    because he picked the right Market that
  • 00:24:32
    people weren't there yet and yes I've
  • 00:24:34
    got a short list of cities that I know
  • 00:24:36
    are good for Airbnb and when my students
  • 00:24:38
    ask I tell them where to go if they need
  • 00:24:41
    that help I try to encourage my students
  • 00:24:43
    to look at multiple factors like where
  • 00:24:44
    they would like to live as well as What
  • 00:24:46
    markets are good when making that
  • 00:24:47
    decision but I do have a list of if all
  • 00:24:50
    else fails and you just need to know
  • 00:24:51
    where you can make some money if you're
  • 00:24:53
    in cracking Su roast I will put you in
  • 00:24:55
    the right spot absolutely so again down
  • 00:24:58
    below if you want to learn about
  • 00:24:59
    cracking super host and you want access
  • 00:25:01
    to my mind 24/7 it's down there the
  • 00:25:03
    ninth way to deviate may be the most
  • 00:25:05
    controversial advice I've ever given on
  • 00:25:07
    this YouTube channel people literally
  • 00:25:09
    hate what I've said here some some of
  • 00:25:11
    you love it some of you don't like it
  • 00:25:13
    and I'll be the bad guy for you to be
  • 00:25:15
    profitable I'll commit to that it's okay
  • 00:25:17
    I want you to be profitable more than I
  • 00:25:19
    want you to like me that wasn't true 6
  • 00:25:22
    or 7 years ago I did start this YouTube
  • 00:25:23
    channel cuz I had a chip on my shoulder
  • 00:25:25
    maybe but now it's about you it's not
  • 00:25:27
    about me so about you Outsourcing is
  • 00:25:29
    number nine too many people Outsource
  • 00:25:31
    everything you Outsource Your Design you
  • 00:25:34
    Outsource your housekeeping you
  • 00:25:35
    Outsource your photography you get a
  • 00:25:37
    co-host you Outsource the entire
  • 00:25:38
    business it's just not smart and if you
  • 00:25:42
    could Outsource less you'd have control
  • 00:25:45
    over your business in three critical
  • 00:25:47
    ways number one is cost when you have
  • 00:25:50
    housekeepers clean for you they might
  • 00:25:51
    charge you $60 or $70 for a one-bedroom
  • 00:25:55
    apartment that's what people charge if
  • 00:25:57
    you paid someone by the inhouse or you
  • 00:25:59
    negotiated your own flat rate cuz you
  • 00:26:01
    didn't pay another company but you like
  • 00:26:03
    haggled around even flat rate you could
  • 00:26:05
    get down to $45 but if you paid by the
  • 00:26:08
    hour because you have multiple
  • 00:26:10
    Properties or a few of you hosts got
  • 00:26:12
    together to have multiple properties and
  • 00:26:14
    you did like a host share where some
  • 00:26:16
    housekeeper worked for you guys
  • 00:26:17
    full-time $15 to $18 per hour that's
  • 00:26:20
    what we pay our housekeepers and we get
  • 00:26:23
    those people from jobs where they made
  • 00:26:25
    10 or 11 before so they're still getting
  • 00:26:27
    raises to work with us it's it's not
  • 00:26:28
    like we're undercutting the world these
  • 00:26:29
    people may not have been housekeepers
  • 00:26:31
    before we trained them that's another
  • 00:26:32
    thing but we have housekeepers now that
  • 00:26:34
    do it our way do it for $18 an hour and
  • 00:26:37
    that cost to turnover is $18 to $25
  • 00:26:41
    where you're struggling to get it under
  • 00:26:42
    60 that kind of cost reduction allows
  • 00:26:45
    you to be so much more aggressive on
  • 00:26:47
    price when you have to be because let's
  • 00:26:50
    say slow season comes and you didn't get
  • 00:26:52
    that monthly booking right you just
  • 00:26:53
    didn't get it now you need a booking
  • 00:26:55
    every day and you got to fight for them
  • 00:26:57
    you're going to get one night and and
  • 00:26:58
    two night bookings back to back to back
  • 00:27:00
    dropping your rates now if every booking
  • 00:27:02
    had a gross $100 collect per night
  • 00:27:04
    including cleaning fee for one night and
  • 00:27:06
    two night's days your cleaning fee and
  • 00:27:08
    cost was 60 bucks you'd keep $40 that's
  • 00:27:11
    not a lot but if you did your own
  • 00:27:13
    housekeeping this way with in-house
  • 00:27:15
    staff and your cost was 20 you'd keep
  • 00:27:17
    $80 this is how I've crushed my
  • 00:27:19
    competition in slow season before I
  • 00:27:22
    modified my strategy to get more monthly
  • 00:27:24
    bookings or in the rare case that it
  • 00:27:25
    fails we do a ton of last
  • 00:27:28
    grind out occupancy in our calendars and
  • 00:27:31
    we do this at scale with hundreds of
  • 00:27:33
    properties you'll have to do both anyway
  • 00:27:35
    so learning to grind out reservations
  • 00:27:36
    last minute is a key part of staying
  • 00:27:38
    full in slow season and keeping your
  • 00:27:40
    housekeeping cost down is a key to
  • 00:27:42
    keeping that money in slow season but
  • 00:27:44
    two more than just cost is quality yes
  • 00:27:46
    an expensive housekeeping company should
  • 00:27:48
    do a darn good job you paid them a lot
  • 00:27:50
    of money and yes there is a risk that if
  • 00:27:53
    you pay people less money they're more
  • 00:27:55
    prone to do a more average job at their
  • 00:27:57
    job
  • 00:27:58
    and this is really where you need to
  • 00:28:00
    step up to the plate as a leader or as a
  • 00:28:02
    manager if you want to pull this off but
  • 00:28:04
    the cool thing about this is if you do
  • 00:28:06
    have a relationship with your
  • 00:28:07
    housekeepers because your business is
  • 00:28:09
    small enough for you to have that
  • 00:28:10
    relationship with them and let's say you
  • 00:28:12
    pay them 20 bucks an hour still just
  • 00:28:15
    fine that cleaning cost might be $30 to
  • 00:28:17
    clean a place instead of 60 that's still
  • 00:28:19
    half off you can ask them to do things
  • 00:28:21
    that a buy the clean team would never do
  • 00:28:23
    you want them to scrub the events you
  • 00:28:25
    want them to do inventory you want them
  • 00:28:26
    to reorganize some stuff you want them
  • 00:28:28
    to do a wellness check on the home to
  • 00:28:30
    check on the alarms and the internet and
  • 00:28:32
    all this other stuff a regular cleaning
  • 00:28:34
    company won't want to do it because they
  • 00:28:36
    could get the cleaning done in a certain
  • 00:28:38
    amount of time and you're asking them to
  • 00:28:39
    spend another 30 or 40 minutes on their
  • 00:28:41
    home they'll say no that's not part of
  • 00:28:42
    their contract but this stuff might need
  • 00:28:44
    to get done and it might need to get
  • 00:28:46
    done often or at random times so having
  • 00:28:49
    somebody paid by the hour they'll stay
  • 00:28:51
    the extra half an hour you're paying
  • 00:28:53
    them by the hour there's no need to
  • 00:28:54
    negotiate this and you can actually
  • 00:28:56
    build your own housekeeping system where
  • 00:28:59
    they follow certain steps that include
  • 00:29:01
    way more than just cleaning and you can
  • 00:29:03
    still get that job done for 30 bucks as
  • 00:29:06
    opposed to 60 this is one of the main
  • 00:29:08
    advantages we have from having our own
  • 00:29:10
    cleaners in house they do more than just
  • 00:29:12
    cleaning and this is something that you
  • 00:29:14
    can take advantage of with cleaners by
  • 00:29:16
    going in-house and the third way that
  • 00:29:18
    in-housing staff can give you an
  • 00:29:20
    advantage is culture because contractors
  • 00:29:22
    don't care about you they've got their
  • 00:29:23
    own company they've got their own thing
  • 00:29:25
    going on they've got stuff that they
  • 00:29:26
    think makes them great but your business
  • 00:29:29
    if we go back to number one your brand
  • 00:29:31
    why you're here what you're doing what
  • 00:29:32
    you're about that all comes back to your
  • 00:29:35
    team and your team will carry your flag
  • 00:29:37
    for you but you have to train them to
  • 00:29:39
    you've got to get them to drink the
  • 00:29:40
    Kool-Aid to buy in so by in-housing your
  • 00:29:43
    staff by getting greedy where they don't
  • 00:29:45
    work for anybody else they only do what
  • 00:29:47
    you do your way your style for your
  • 00:29:49
    reasons you are now building a powerful
  • 00:29:51
    team that all shares your message and
  • 00:29:53
    all believes in your message so if you
  • 00:29:55
    want number one to work from this video
  • 00:29:57
    you really should be taking taking notes
  • 00:29:58
    Here on number nine your team will carry
  • 00:30:00
    your brand farther than you ever can key
  • 00:30:02
    examples here Lifetime Fitness the owner
  • 00:30:04
    used to say I love you to his staff all
  • 00:30:06
    the time or Kirby vacuum cleaners they
  • 00:30:08
    would knock door too if somebody got a
  • 00:30:10
    win or got a sale they'd say that's
  • 00:30:11
    positive and what's wild about the
  • 00:30:13
    that's positive culture from Kirby is it
  • 00:30:16
    is so permanent in the minds of these
  • 00:30:18
    people that when I built my first seven
  • 00:30:20
    figure business selling newspaper
  • 00:30:21
    subscriptions I at one point hired two
  • 00:30:24
    separate people from two different
  • 00:30:25
    cities that came together to sell for me
  • 00:30:27
    in Houston and they started talking
  • 00:30:29
    about their previous jobs and they both
  • 00:30:31
    ended up mentioning that they worked for
  • 00:30:33
    Kirby and they started talking about
  • 00:30:34
    sales and next thing you know they
  • 00:30:36
    started saying that's positive it came
  • 00:30:38
    back out there's so much association
  • 00:30:40
    with the brand two salesp people for
  • 00:30:42
    Kirby were so indoctrinated into that
  • 00:30:44
    sales program that they started to speak
  • 00:30:46
    their own language in my sales team it's
  • 00:30:49
    absolutely nuts that's how powerful this
  • 00:30:51
    is running a company culture that's in
  • 00:30:53
    alignment with your brand you'll go
  • 00:30:55
    super far with it and number 10 your
  • 00:30:57
    bonus weight deviate in this video I
  • 00:30:59
    honestly had to reach into my bag and
  • 00:31:01
    search my soul a little bit for this one
  • 00:31:02
    it's esoteric at bare minimum and let me
  • 00:31:06
    know if you resonate with this type of
  • 00:31:07
    content cuz I don't teach it nearly
  • 00:31:09
    enough I don't think but I don't know if
  • 00:31:11
    you guys find it valuable you need to
  • 00:31:14
    deviate internally from the why that
  • 00:31:16
    started in this industry why did you do
  • 00:31:19
    this to begin with did you do it for the
  • 00:31:20
    money did you need a creative Outlet
  • 00:31:22
    were you just trying to keep yourself
  • 00:31:24
    busy you wanted to get away from your 9
  • 00:31:25
    to-5 a lot of reasons that we do this
  • 00:31:29
    business are completely selfish we did
  • 00:31:31
    it for us we wanted the money we wanted
  • 00:31:34
    to express ourselves we wanted to get
  • 00:31:36
    out of the Rat Race you're in
  • 00:31:38
    Hospitality I want you to know that and
  • 00:31:40
    hospitality is not about you it's about
  • 00:31:43
    your customer we could find a reason for
  • 00:31:45
    the customer that we did any of these
  • 00:31:47
    previous nine for them and it would make
  • 00:31:49
    so much sense if your why was to build
  • 00:31:52
    something for people that was truly
  • 00:31:54
    valuable that they would truly enjoy
  • 00:31:56
    that they would remember for a long time
  • 00:31:58
    Hospitality creates a bubble of
  • 00:32:00
    experience people go in and they forget
  • 00:32:02
    about the world that they left behind at
  • 00:32:04
    least for a little while if you did it
  • 00:32:05
    right look at Disney look at the hotel
  • 00:32:07
    Zone in Tulum look at Dubai look at
  • 00:32:09
    these places people completely forget
  • 00:32:12
    about their life their woes their
  • 00:32:14
    troubles when they are in these spaces
  • 00:32:16
    and that is a powerful thing as a
  • 00:32:18
    company if you can avert your why from
  • 00:32:20
    the making the money to getting out of
  • 00:32:21
    your 95 to getting out of your own head
  • 00:32:24
    and your needs and stop being so
  • 00:32:26
    entitled about your real estate
  • 00:32:27
    portfolio in your profits and you
  • 00:32:29
    started to lose a little bit of money
  • 00:32:30
    for the sake of the customer you started
  • 00:32:32
    to give a little bit more than you ever
  • 00:32:33
    did before you would deviate Beyond
  • 00:32:35
    every other person in this industry
  • 00:32:37
    because the main thing that has happened
  • 00:32:39
    since covid is a lot of lazy entitled
  • 00:32:42
    real estate people bought property to
  • 00:32:44
    put it into short-term rentals cuz the
  • 00:32:46
    money was easy Co created a Revenge
  • 00:32:48
    travel boom where we got a lot of
  • 00:32:50
    customers we got blessed with a lot of
  • 00:32:52
    customers but then came a lot of trash a
  • 00:32:54
    lot of trashy real estate lazy ass
  • 00:32:57
    people part of my French who have ruined
  • 00:32:59
    this industry cuz they don't care they
  • 00:33:01
    just don't care and we are fighting
  • 00:33:03
    against those people and hotels are
  • 00:33:05
    winning to get their customers back
  • 00:33:07
    because of those people you do not want
  • 00:33:08
    to be in the same boat as the Barons of
  • 00:33:11
    real estate who've got into short-term
  • 00:33:12
    rentals cuz the money was good these
  • 00:33:14
    people just want to steal from your
  • 00:33:15
    customers and the best way to protect
  • 00:33:17
    your business is by protecting your
  • 00:33:19
    customer from those guys build something
  • 00:33:21
    better than them build something that
  • 00:33:23
    people want build something that is net
  • 00:33:25
    positive to the overall short-term
  • 00:33:27
    rental brand not going to say the Airbnb
  • 00:33:29
    brand because we have our own too make
  • 00:33:31
    something that makes the short-term
  • 00:33:32
    rental world a better place because you
  • 00:33:34
    care about your customers and everybody
  • 00:33:36
    in that little pocket of the short-term
  • 00:33:37
    Rental World will win and those stupid
  • 00:33:40
    Real Estate Investors who just wanted
  • 00:33:42
    extra cash flow on their properties
  • 00:33:43
    because a Revenge travel they will go
  • 00:33:45
    out of business as they should thank you
  • 00:33:46
    so much for watching this video if
  • 00:33:48
    you're one of the latter real estate
  • 00:33:49
    guys sorry not sorry but if you care
  • 00:33:51
    about your customers I love you and keep
  • 00:33:53
    watching these videos I will help make
  • 00:33:55
    you a Crusher in this space for more
  • 00:33:57
    about themes like I said earlier if you
  • 00:33:59
    want to theme a space watch this video
  • 00:34:01
    next and as always my friends I will see
  • 00:34:03
    you on the other side
  • 00:34:06
    [Music]
Tags
  • Airbnb
  • brand consistency
  • design
  • pricing strategy
  • market trends
  • themes
  • multi-channel marketing
  • customer experience
  • outsourcing
  • innovation