PriceLabs / Dynamic pricing question for new STR

[Matt Bowman]

Hi! My wife and I just listed our first STR (single family home, 8 guests), and I have a question about dynamic pricing. I am in the 30 day trial period with PriceLabs.

The vacation attraction of our house is that it is near the beach (7.5 mile drive) and walkable to a pier and boat launch on the sound (< 1 mile), but it is not at the beach. Yet because my house is in a close radius to the beach (only 2.5 miles as the crow flies--the 7 miles is what it takes to a drive out, around, then over the bridge), it seems like PriceLabs is using on-the-beach or walk-to-the-beach properties as comparables, and this may be leading to dynamic prices that are too high.

I am not sure exactly how to fix this. I don't think it is practical for me to set a tailored price for each day, and even if I could, that price would no longer be dynamic. What I think I need is for the dynamic pricing to be based on the true comparables, which I have identified on the PriceLabs map. But I'm not sure if I can make my own comps list into the one that PriceLabs uses for dynamic pricing.

As likely as not, there is an easy fix I am overlooking. Thoughts?

UPDATE: I asked PriceLabs help about this, and they can do some work on their end to tailor a comparables set for the customer, so I am pursuing that.

[Lauren Kormylo]

Pricelabs allows you to change the pricing level somewhat. Check out this on their site, if you think 50th percentile pricing is too high, you may want to try pricing at 25% and see how that looks.  https://help.pricelabs.co/portal/en/kb/articles/percentile-d...

[Andrew Steffens]

I do not have PL experience but I have used Beyond Pricing and RevMax and we were able to set our own parameters and not just tie to it surrounding comp properties.  Have you tried reaching out to their help desk?