** Airdna market minder: the essentials to know **
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Hello, and welcome to the J'poster Complet channel, the channel which helps seasonal rental companies, professional sub-renters and seasonal rental concierge services to increase their turnover.
Today, we're going to talk about Airdna, the market minder part. If you've ever heard of Airdna, or perhaps come across this part of market minder on the website, this is the main part, in fact, of Airdna. Well, today I'm going to answer the questions you may ask yourself about this part: is it really interesting for you? What will you find there? What help, and what data will this be able to provide you? You'll see, we'll even go into the Airdna market minder part together, so that you can see if it's worth the expense for you or not?
If you are not yet subscribed to the YouTube channel I'm displaying Complet, don't hesitate to do so, and click on the bell which will allow you to be alerted when I go live on YouTube and Facebook. And then, it will be the opportunity to be together. It's always a pleasure. So, don't hesitate to say hello when you arrive. Do not hesitate to write me your questions, the questions you may ask yourself, when I unfold the elements that I want to share with you today, or questions on other subjects to which I will be able to answer the end of the presentation.
Today, we are talking about a market minder. I'm going to share my screen. In fact, it's true that I didn't prepare it before going live, but I'm going to share my screen. I'm going to share my screen, because we're going to see what Airdna market minder actually promises. Wait. So. I'll do something for you. How are you ? Nobody feels nauseous? Is everyone still there? I'm going to share, in fact, what are they selling us on market minder? Is this really what we get next? You will see, it promises four positive points compared to their market minders. I'm going to give you a somewhat informed opinion on this, on what will really be the most useful for you or not, and to see if it will help you in the objective that you are pursuing, by digging the subject of Airdna. So, I'm going to share this time, I'm going to try not to make a mistake. I will share. So hop. Look, I'm doing something stupid, I think. I have two screens, actually, which in my defense doesn't make things any easier at all. There you go, that's it. Normally you should see market minder on my screen. So, when we go to their market minder page, they promote three points. So, if you are not very comfortable with English, I will explain in French what is given as a virtue, we will say, of their tools. The first thing is to have indicators, in fact, on the industry, on seasonal rental, different key indicators which will allow you to better understand: what is the demand? When are there people? When is there not one? The ads they sell? At what price do they sell? There are several warnings that are really important, which I am sharing here. And don't hesitate to also go to the YouTube channel I'm showing it all in the Airdna playlist. You will see, there are already a lot of videos on Airdna that will help you really better understand and know how to use Airdna properly. But here, immediately, I still share with you some warnings. The first thing is that the amounts that you had in turnover in Airdna market minder are all-inclusive amounts, so that is to say that you have the stay, the cleaning and the Airbnb commission. And then, the second important point, is that it is true that these performance indicators are indicators that come from Airbnb, sales that are identified on Airbnb, but that is not particularly a problem. In any case, you have to keep it in mind, but they are looking, they have an algorithm to reconstruct the estimated overall performance. So, they have Airbnb training and they try to estimate what the overall performance of the property will be over the period that is being scrutinized. So, this is a piece of data that is, all the same, quite correct, which is just within five points. They are verified, they are controlled for that, to be accurate to within 5%. So you can still rely on it. But keep in mind that it's true that on booking, for example, we can expect average price amounts which are higher than what we have on Airdna, because they come from Airbnb. So, the first point sold to us on market minder is the fact of having basic industry indicators over the short term. Second point that is sold is the fact of having a dynamic price estimate. That is to say that Airdna, on its market minder part, has an estimate of what the price should be. We have different indicators inside. I'll talk to you about it in more detail later. The third thing is to have, in fact, the possibility of connecting your own Airbnb ads, and to be able to see, suddenly, some proposals on what seem, to the algorithm, to be the main competitors on that, and to be able to compare yourself with them. That's if we connect our assets to Airdna. And then, the last point is to have a vision for the future. Because in fact, what you need to know is that in Airdna, we only have and have had information about the past for a long time, so we can go back 3 years, which is really extremely important. .
So I feel like I wasn't being heard. Can you tell me if you heard me or not from the beginning? I'm not sure anyone can hear me. I'm not sure if anyone has heard me, so I hesitate. Do I start from the beginning, or not at all? I await your feedback. Didn't we hear anything from the start? Oh yes, I was heard, it was just very punctual. Okay, great. Okay, well, I'll continue. Thank you very much, Marie, for your feedback. “It just cut.” So, I continue where I left off.
In fact, on this last part, we suddenly have – and this is an innovation – we have the possibility of having the future, and that is really important. I'll talk to you about it again. We can see, in fact, we can say, for example, about my city, over the coming weeks or the coming months, my city, what level of occupancy it is currently showing. That's really precious. So, basically, if I give you my totally subjective opinion, but it's valid, because we use Airdna on a daily basis. So, let's be clear, I think it's a tool that is essential. Now, I find that not all items are as valuable as each other. We work on almost 300 properties that we optimize every week for the concierge services we work for. What we use on a daily basis, in concrete terms, are the basic indicators which are essential to being able to do our work well. And the second thing that also serves us is the future. That’s really extremely valuable too. Why is it extremely valuable? Because in fact, it constantly allows you to say to yourself: “I have such and such performance. "Whether it is good or bad, we can immediately compare it to the performance of the entire city." I will give you concrete examples. For example, I only have 15% completion, I could say to myself: “That's really bad”, so question yourself and ask yourself how to improve. But, if we see that in fact, in the city, at that period, the filling, in reality, it is only 5%, straight away, that puts it into a different perspective, and we realize that in fact, there are not many demands on the city. And I, in the end, I do better than the others, because I am at 15% versus 5% for the rest of the city on average. So, it really allows us to have a much more precise perspective on the quality of our performance, and on whether or not we need to act in order to improve. So, there you have it, for what the four strong points of this tool promise.
Why did I only tell you that? This part works by making predictions. So, you see here, he tells us, for example, that there, on this day in question: “Here, it's going to be a period of high demand”. And then we're told, "What's booked is on average $289 a night, and what's available is $304 a night on average." What he recommends is to increase its price to 375 dollars, which means that it represents more than 80 dollars to be able to be in line with the 70 percentile. I find this system interesting. Now, the criticism I would make of them — this is the reason why we do not use it — is that in fact, it is extremely vague, their estimate of demand. And unfortunately, many systems will determine your prices for you. So there is Airdna which makes this proposal, but which will not connect directly to your systems. On the other hand, there are other systems that do a bit of that: Pricelab, Welahouse, Be young pricing. These are people who offer a tool which has a forecasting algorithm, and who associate a price in relation to the strength of the expected demand: is there going to be a lot of demand or is there will there be few? So, in relation to that, I made a video on that, if you want to go see it, it's: we're lying to you about automation. It is in the playlists of the YouTube channel I display Complet. In fact, the problem is that you will have a system that does not know how to react if there are scenarios that have never existed. So, in current situations, in fact, we are talking about a pandemic, in times of strike, in times of snow, the systems are completely useless, because they are not capable of referring to identical scenarios in the past.
Second problem is that these are systems which are global, but which, as a result, cannot adapt to local specificities. So, I'll give you an example that I give all the time. The Orient, interceltic festival of the Orient, there are lags and sometimes on the interceltic festival of the Orient within a week, typically, the algorithms are completely overwhelmed by that, that is to say that they go to the week which, as a result, no longer benefits from the interceltic festival, because it moved a week later. They will continue to offer you Interceltic Festival of the Orient prices, even though there is no longer a festival this year during the week. So on that, they're really not very good. And in fact, in reality, there we had so many changes of movement. The events were all canceled. So, they will all come back on dates that are most likely not the usual dates for these events. So, in these cases, if you don't have the perspective to look, the perspective to look at the right dates and set the right prices at the right time, if you only trust your pricing algorithm, we do anything. That's why we don't trust that. And the last thing about that is that it's extremely sophisticated. These are ten-point forecasts, that is to say that we tell you... There, you have Very high demand, you have — I don't even remember — but there are graduations, that is, for For me, it's not 24 hours. It's a level of sophistication that is ultimately too great compared to the revenue gain that goes so far in specificity. This is something that would make sense for, for a hotel, for a Club Med. But on the scale of a seasonal rental, it's time spent for not much, in my opinion, in terms of saving money. That's it, we also make forecasts, but it's much simpler than that. There are generally three notches or four notches maximum 5, but never more. And then, for customizing the account, that's it, it's interesting. The only thing is that we, in fact, do not have the possibility with almost 300 properties, it is difficult to integrate the 309 into the system, the system would not allow it. So, that's why we don't use it. But I think it could be interesting to compare yourself.
Small warning, anyway, well even big warning in reality on that, is that when you do that, if you do it, if you integrate your assets into the system, and as a result, it compares you with your colleagues, it will offer you an evaluation of turnover per property, per ad. We, at J'poster Complet, no longer look at these figures. Why don't we look at these numbers anymore? So, let's be clear, here, I'm talking about the moments in the software where you are told this ad precisely, it had such a turnover, such an average price, such an occupation. We don't watch that anymore. For what ? Because I have made comparisons in the past between goods that we optimized, so we knew the statistics perfectly, and goods that were present in Airdna, and in fact, I realized an inadequacy between the two, which will be very annoying. I wrote to Airdna at the time, we discussed this a lot. And it turns out there can be disparities at the scale of an ad. So obviously, I said to myself at the time, “No, but my God, it’s hell. We should no longer use Airdna. It's not fair, etc. ". The statistical reality is that we can have disparities on the scale of an announcement, but nevertheless, on a global scale, it should be within five points. So, that's why we are now working hard to have, for the cities we study, a sufficient number of announcements. We recommend at least 50, if possible much more, but the minimum is still that. And we no longer look at the figures at the level of a single ad to be certain that there is enough value, enough adverts within the statistics we are looking at, for these statistics to be the most fair as possible and it's fair to within 5%, that's it. On the scale of an announcement, it seems too risky to me and so we don't really trust these figures. Now, this part can allow you to see who the colleagues are, what their titles are, their photos, etc. And it still makes sense, that's it.
So I'm going to go into Airdna quickly to show you, so you can really see what's inside. Is there a city that would interest you? Tell me, if there is a city that might interest you to look at in Airdna, so that we can look together at a, there you go, a city that might be of interest to you. Give me your city, if you want, that’s it. For the people who are with me live, don't hesitate to give me your city, so that I can study a city that helps you, that is. We will look at the different screens. So, while waiting to get feedback on the cities, I'm going to put Paris, for example, and I'm going to share with you the chapters that we have in Airdna market minder. So there you see Airdna market minder. This is really the market minder part of the tool. So, you have, you will see, there are several categories inside market minder. The free part, sometimes I hear people telling me… But I'm going to show you the free part. You may have already seen it, in fact, while searching for your city. This is the first page that we show you and it's a page called Overview, it's a page called Overview. So it's this, this free part, this is the part that people watch. So, there are a few things that are interesting. These cosmetic statistics, I'm allergic, I beg you, don't do your profitability calculations. That's what I was going to say, actually. Some people told me: “I looked at the first page, I saw average price 107 euros, for example, I based it on that”. So when I hear that, I faint. I say to myself: “It’s so risky to take that number.” Why is it risky? Because in fact, these figures are figures over one year, so that means that it is from now to minus 12 months. You don't understand the period very well. This is the first risk. The second risk is that it includes all types of property, that is to say you have interior studio T2, T3, T4, T5, all of them, super laughable, you see, it depends on the typology of although you put. But suddenly, if you study the potential profitability of a studio, and you find yourself taking 107 euros, then potentially... it's cut again. Wait. Excuse me. You tell me it cut out. Thin. Normally, it should be good. I'm sorry. I have, I think I have connection problems with the internet or my headphones. I don't know. So, it seems to have returned. I will, I will continue. You'll tell me... I'm looking to the side, since I have a second screen, so that's why. I'm sorry.
So what did I tell you? Yes. So we don't have a very good handle on the period. We do not understand the typology of goods. That is to say, we have a mix of property types: studio and all property types. And the third important point is that we do not also control the quality of the goods that are inside. Airdna has a strength that must be recognized, which is that you can filter according to the performance level of the ad. You can either have the average performance, or you can have the performance of the top 25% of ads. And that's important, especially when you have an investment project and you say: “Well, I still want to compare myself, not assume myself to everyone. I want to compare myself with the pros and see the pros, in any case, the people who have a professional approach, what do they give, in terms of performance? » This is crucial. So on that, this figure which is in Overview there, catastrophe. He does not consider all these parameters at all. So that's it.
Afterwards, to give you a little guided tour of the interior of Airdna, you have the free overview page. This information is interesting, but really, these cosmetic figures, don't go there. What you will be able to find later, in the search section, is Ocupencil. So, that's a whole lot of information on occupancy rates. It can help you see fill levels, occupancy rates and here the number of active listings on Airbnb and VRBO. It is not specified that Airdna also includes VRBO data, so it is Abritel, Homeaway, etc. But this is an extremely small amount of the data we have. And that is the evolution of demand in terms of turnover – it seems to me – in number of nights booked. Pardon. We mainly use the occupancy rate. Here you have the same thing, but in terms of price. So there, on the price, you have the average price elements, here, these are average prices, the yellow sticks. And here, you have what I explained to you earlier, that is to say the best announcements. It is presented in percentile. If you don't know what the percentile is, that's a bit of what I just explained to you, either the amount on average or the performance of the top 25%. I encourage you to go to the channel I display Complete, the Airdna playlist, I shared a video which is dedicated to this, which is called, I believe, “What do percentiles mean”. This is the theme of the video. This will help you better understand what percentiles are. So, don't hesitate to refer to it. After that, you have, well, suddenly, exactly the same thing, but on turnover. So a little reminder on that, average price and turnover, we have stay + commissions + households. That's why. And here, you have the turnover history, but all ads combined, so not very usable. But there, you really have month by month, and in percentile. And importantly, this is where you will be able to filter by type of property. This is where it is crucial.
So, Sylvia said to me: “It’s blurry, it’s a little blurry.” I'm sorry. Maybe if you watch it again on YouTube, it will be less blurry. No, because you are already on YouTube. Thin. I think it's the quality of my connection that is not good. I'll try to zoom in a little. Hop. I'm going to zoom in a little so it's less bad.
After the price, you have here the future part which is absolutely... Well, for us it's holy bread. It's really important to have this data. We didn't have it, at the start of 2020, we didn't have it. It must have appeared in 2020. And frankly, it’s crucial. You see the purple line, it is the occupancy rate in Paris. Finally, for the record, let's look at the occupancy rate in Paris over the coming days for this evening, it is Tuesday March 2, at the hot moment of this video. For this evening, Paris is filled with 9% occupancy. That is, there are analyzes on the price in the future, so also very interesting: the price of what sold, the price of what did not sell; and there are also filler ideas. So there, you see what has been filled over the last 60 days, what has been filled over the last 30 days, that's the last 60 days. And now, if I look at the last seven days, ah, there's almost nothing. That's it, it's a disaster. Well, it's still, Paris, it's still very atypical. There are a lot of cities where it hasn't been a disaster like that, the last 30 days and the last 60 days? That's it for the landscape part.
After that, you have a Raide Calendar game. So Raide Calendar, it will give us an idea of seasonality, it will give you an idea of performance day by day over the previous 12 months preceding the reading of the figures. And you have a revpar indicator at the bottom. So the revpar is the income per apartment, which is also a very interesting indicator. Depending on the needs, you may need turnover or revpar. Both are good.
So unfortunately, I think I'm having connection issues, and my wifi is struggling with both.
So what's more, I told you completely nonsense. I'm sorry. In fact, what I just wrote is Seasonality and steep calendar is precisely something else. It's this pricing schedule with this order price estimate. And so here you are going to have the day-by-day price calendar of your competitors. So this is an average price day by day. Yes, the system is having a bit of difficulty. But, I'll explain to you anyway. It's not serious. This way, you will be able to see what you can find, finally, have an explanation of what you can find. So the first tab that I showed you at the top is, there you go, that's it. So, that’s a day-by-day estimate. But, the second tab is the famous recommended prices about which I had reservations earlier. And the height of Raide is precisely the possibility, when you put your ads, of having the prices of what they call the con-scept, that is to say the scepter of competitors, in fact, There. Ultimately, that's it.
And finally, I already spoke to you about Seasonality. To finish, I was talking to you about three, the last three tabs, so invest, the first is rentalizer, friendlizer is a system where you can put an address and we will estimate a potential turnover for you on the next year at this address. So, if I put 60 boulevard de Strasbourg in Paris. So okay, usually it works, okay, that's it. So there you see, we give you an estimate, a turnover, an occupancy rate. People often ask me: “But, Élise, do you use that to estimate the potential of a property?” » Me, I am extremely vigilant with this screen, because I had already tried to reconstruct a little: why he took this and that hypothesis for filling in the average price? I found that it was a little optimistic compared to the historical performances that I saw in, precisely, Airdna, especially in times of pandemic like currently. Me, I remain fairly measured on that. I rather refer to the numerical details, in fact, which are in reasearch and I reconstruct my own estimate. It seems fairer to me and what's more it allows, in fact, to take your own decisions, depending on the level of optimism you have, according to the prospects you have, and according to what you expect, in fact, from your study. In top properties, it is a system which will allow you to see the advertisements which generate the most turnover. What's nice is here, you can also filter by type of property, you see the titles, you see the photos. Here, I remind you that these statistics are statistics which are, potentially, too vectors of significant deviations from reality. So we don't look at them at all. And what I also like here is that you can see on the map... That seems a little trivial, but that's interesting, when you look at the competitors you can say: “OK . In my city, are the competitors all in the city center or in different locations?” It's quite interesting to watch. And then, market comparizer has data that allows you to put several cities and compare. So, I'm going to do the exercise for you. If we put Paris. That's nice too. I like that. It helps us too, when we have a concierge service that has several properties, or when a concierge service works with one city, for example, and ends up having a property in a neighboring city. Moreover, if you are in a situation where you are next to a large city, but the data is not very interesting on your small city, in quotes, you can use this screen to say to yourself: “Okay Now, I'm going to do something else. I'm going to do Paris, Lyon and Marseille", or tell you: "Well, so, what is the overall gap in performance between the big city and my small town" and be able to take more serene hypotheses and price points, because that you see the numbers clearly, you will see that it will stand out… You see? We can clearly see the numbers. So here, we see that, over the year, Paris was down 50% compared to last year. He tells us here what he is comparing. So here, he compares February 2019 to January 2020 versus February 2020 to January 2021. We see that Paris suffered less than 50%, that Lyon suffered less, and Marseille even less. And we can see the differences very clearly, therefore. For example, if yellow was my big city and blue was small towns for me, I would immediately see the difference between the two cities. So super interesting.
And then, the last element is the My copertise part. As you see, we didn't necessarily put up any ads. I think there are two or three that are there, but that allows you to really have the announcements and be able to compare to competitors. So, I'm not going to spend too much time on that, because we don't use that screen at all.
There you go, I hope that all this has been able to help you and give you a much clearer vision of what Airdna market minder can bring you or cannot bring you, to know if it is worth it for you to put a little little money, it's not very expensive Airdna in that.
I see that I have a question then: “Hello, do you think that the data on Airdna is really usable and reliable given the current health situation? I’m afraid the data is skewed.” The data is totally, totally distorted in 2020, that much is clear. The data is completely impacted by the pandemic. Now, there are two things to keep in mind regarding this. The first thing is that it allowed us, when we were re-confined in November, it allowed us to already have a fairly accurate perspective of what had happened in March. So, it was still data that made sense and was important to look at. There are three things, in fact, the third thing is that it still allows us to say: “We were in confinement, we had difficulties with the pandemic, and they will continue to last a little bit. , these difficulties", but it remains true that it is important to see what we have done in relation to others, because we are all in the same context. So, it's true that there are difficulties for everyone, but if in a city, there was, for example, 50% occupancy and we only had 15%, well, the pandemic has a good back. It's not just the pandemic, because that means that we haven't even been able to reach our full potential in the context of a pandemic. So, look, 2020 still makes sense to also challenge yourself, to say to yourself: “In an equivalent context compared to colleagues and competitors, am I making the maximum turnover that can I do? ". That's the second thing. And the third thing I wanted to share with you is that, for many analyzes which are long-term analyses, we will ultimately look at 2019. And it's true that in Airdna, we have 2018, we have 2019 and 2020, so we can really work calmly with the figures given to us, either by looking at 2020, because we are really making a study in the context of a pandemic, or looking at 2019, because we are doing something more long-term and we do not want to have these impacts of the pandemic in our analyzes and, therefore, our recommendations, that's it. I hope this helps you.
Sylvia, I didn't see your message. You are in Florence, Italy. I think you had already said it in another, in another live. It really speaks to me.
I hope you were still able to get all the elements of this video. To finish, if you wish, I have produced a document which is really a summary of information called "The six mistakes not to make when determining your selling prices", it is a document which will help you help, because I put the errors that I most often identified. And what should we do instead? How to correct this mistake, and how to stop making it so that you no longer miss out on money? To receive it, it's very simple, what I suggest is to join our private Facebook group called “Seasonal rental, prices and maximization of turnover”. You have the link in the comments. Simply click, enter your first name and email to introduce yourself, and you will receive by email the free bonus of six mistakes not to make. I'm sure it will help you. And you will see in our private group, we discuss a lot on all these subjects. I share exclusive information that I find on the news, which is important to have in mind, and also points which concern me that I wish to share with the community. There are already almost 1000 of us. So, don't hesitate to join us. Click to join the private group.
So. I do Lives every day, as much as possible. There are a few days left. Right now I don't do Sundays, but normally it's Sunday to Thursday. In the coming weeks, I will resume Sundays, Sunday to Thursday, every day on Facebook and on YouTube. So, stay connected, and then I say to you: I hope you liked it. See you tomorrow for the next live.