How much are dozens of 5-star reviews worth???
Hey, I'm considering buying a specific property that is being run currently as an STR. The Airbnb and VRBO listings have dozens of 5-star reviews and very high ratings. As part of my offer, I requested that they transfer those listings to me at closing.
When the sellers saw that request, they bumped up their asking price significantly. So I ask you this: what is the monetary value of buying great Airbnb and VRBO listings? How much extra would you pay for a house IF it comes with stellar Airbnb and VRBO listings?
These listings should significantly increase first year revenue, right? I mean, you should be able to get a lot of bookings from Day 1 compared to creating a listing from scratch. So seems like there’s quite a bit of value in buying these listings, even at a high price tag?
Like, a property that earns $50k per year might only earn $30k in year 1 if you have to delete and recreate the Airbnb and VRBO listings, right? In that case, the online listings are essentially worth $20k, right?