Welcome to PropertyMarketIntel, this is text based guide with a full video tour of all of the stages covered in the guide. In this guide we are going to cover all the steps needed to get started with the platform both for Portfolio Analytics and also Dynamic Pricing.
Add your integration/channel manager
Complete your listing setup
View your listing and portfolio performance
Create your pricing settings and generate your first calendar
Turn on price sync
Step 1
Let's dive in and head to either your portfolio or dynamic pricing dashboard, this is your control centre for your whole account, where you can access your portfolio and click on individual listings to view performance and settings.
Before getting started you will need to link your PropertyMarketIntel account with your channel manager so we can access the data for your listings and push price changes if you activate dynamic pricing.
After pressing, 'Add Integration' you can select from one of our integration partners. If you choose partner isn't shown please contact us so we can integrate with them. For more details on how to connect to each partner view our individual integration guides at this link: HERE
After following one of the tutorials with our partners you should now have a successful integration that will pull data daily.
Step 2
Once you have imported your listings and can see your listings within the table on the portfolio/dynamic pricing page it no time to complete your set-up of each and verify the details, such as location, no. beds, bathrooms etc. If we have received this data from your channel manager this will already be preloaded and you will just need to confirm. To start this process you just need to click on the listing and a pop-up will appear like below.
Once you've completed this, if selected from the dynamic pricing dashboard you will be taken through the dynamic pricing set up flow. If selected from the portfolio dashboard you will be taken to the listing performance page. From here you can access:
Bookings
Performance
Insights
Comps
Step 3
Step 4
The following section will take you through how you can now set up your listing for dynamic pricing and select your settings based on your preferences.
You will be first asked what type of set-up you would like to follow:
Rule-based
Rule-based pricing is where all factors are set manually by the user giving you full control over each pricing factor. This is generally used by more advanced users who look for very granular control over pricing
Data-driven
Our most widely used pricing mechanism which the user can select from 3 choices and our intelligent pricing models will move prices up and down based upon your settings and what is most likely to drive the best revenue for your listing.
In this example, we will follow the data-driven approach on how to set up your listing. The first step is to select your base price, PMI will provide you with suggested base prices if your listing has more than 90 days of historical and future booking data.
The Base Price is the foundation of your PropertyMarketIntel Pricing. It refers to the ideal price (not the highest!) for your listing before we adjust for daily demand.
A this stage we also advise applying a minimum price, this minimum price will mean that no matter the different pricing factors apply to your base price, the price pushed for your listing will never be below the minimum price value.
The final step is to press 'Create Calander' this will create your first pricing calendar (don't worry nothing will be pushed until you turn on the price sync). With your first calendar created it is now time to go through each of the settings tabs and configure each setting to your preferred setting. All settings are defaulted to the 'recommended' settings which is in line with our model's most efficient pricing suggestions.
On each of the settings tabs, you can access an explainer guide and video to help understand how each setting will impact your pricing.
For more details on how to create your data-driven strategy click here
For more details on how to create your rule-based strategy click here
Step 5
After completing a successful set up of your listing and pricing settings, you will still need to activate the automated sync which will mean we will update and push prices for your listing every day based upon changes in your bookings, local demand and general settings.
On the top right hand side of the listing page, you will see a toggle with the label 'Sync Automation'. When this toggle is red this means that although we are creating and updating the calendar on the platform daily we are not syncing these prices to your channel manager.
When this toggle turns to green this means that the listing is now being synced with your channel manager and your prices will be updated daily to reflect your price settings.