What is Beyond Pricing?
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26 Jan 2021
It's easy to see why so many people love the city of Charleston and its surrounding barrier islands. With the ever-increasing popularity, how is Island Realty staying competitive in the rental market? Learn more about Beyond Pricing, the new tool we are utilizing to make sure our rates are competitive with others in the area, and adjust daily.
Demand for our properties is changing every day! The dynamic pricing feature will look at where the highest demands are, and make sure that our pricing reflects that demand. Much like airline tickets and the entertainment industry, the more people that are desiring to book for a certain time, the higher the rates are going to be to stay competitive.
While in previous years last-minute stays often came with discounts to get properties rented, you'll find that the opposite is actually true in similar industries like hotels. If you wait closer to the date to book your stay, you might end up actually paying more. This is especially true if you're visiting for a special event happening in the area, or for a popular season! Beyond Pricing brings a similar structure to the vacation rental market, so the prices for our rentals will fluctuate frequently. These price adjustments are automated, so as the demand changes, our prices will too.
Dynamic pricing will show up on our website, of course, but also third-party booking sites like VRBO and Home Away. This saves you time with price comparisons!
While we're on the subject of pricing between platforms, this is a great time to bring up booking direct! By booking directly with Island Realty instead of platforms like VRBO, you're saving on those third-party fees!
Tracking and Future Predictions
Our new pricing isn't only based on what the demand is like right now for your selected dates, it also predicts future demand! The market conditions are analyzed constantly, so that our rates are as accurate as possible.
With the new lifestyle of working and schooling remotely, the desire to relocate (even if it's just a week!) is growing rapidly. The demand for vacation rentals has skyrocketed, and now with Beyond Pricing, we are able to accurately predict where the demand is, and where it will be in the future.
Let Our Team Help You!
With these changes to how our rates are set, it can be a little confusing finding the right vacation rental for your needs. Luckily, we are so fortunate to have a team of knowledgeable, helpful, and friendly Vacation Planners that are here to help you! Our Guest Services team is located right here in our office on Isle of Palms, so they know the Island well and can help you find the rental that is going to be a perfect fit for your next getaway on Isle of Palms or Sullivan's Island.