Generate Your Own Bookings?

Fed up with VRBO, Airbnb and other listing sites?

Two big companies have emerged as the primary players in the vacation rental listing sector.

• AirBNB 
  
• Expedia (Homeaway/VRBO)

Where are Listing Sites headed?

If you’re not growing you’re dying, that’s a pretty well-known business quote and it particularly applies to businesses with shareholders. TripAdvisor and Expedia are both publicly traded and AIrbnb had their IPO in December!

Continued growth in profits equals a growth in share prices which is what shareholders want, so the pressure is really on companies of this size to keep squeezing every bit of revenue out of a market that they can.

So for a listing company, where can this profit growth come from? There are only 3 real ways:

• More listings (which means even more increased competition for your property)
  
• Increased revenue per listing (increased owner fees)
  
• Taking money from guest (guest fees)
  

All of these paths are bad for the solo property owner looking to generate income from their rental properties.

So what do you think is going to happen? 

Their booking fees will start creeping up, they will introduce tiered commission levels, giving them more commissions and increasing their income. No matter what they decide you will always be at their mercy.

It’s foolish to think this isn’t going to happen, but where will it end? Where do you draw the line? Seriously, are you OK paying 15%, 20% or even 25% or more in fees!

It all spells a bleak future for people relying on these sites for their rental income.

There's a better way!

It begins with starting the transition away from services you have no control over.

There is another future though, for property owners with the right mindset, the right knowledge and the right tools, the future can be one where you take control back from the listing sites, generate your own bookings, and keep your income for yourself.

So what's the solution?

First or all, treat your rental business like a real business and don't be so dependent on services that you have no control over!

It starts with owning your own dedicated Property Website that's optimized for search, and then using Email and  Facebook marketing among other strategies, to drive potential guest to your website.

I'm not saying to just completely drop what you're doing now with the listing services, but it's wise to start the transition away from listing services to a point where you're generating your own bookings.