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Do Not Use AirDna! Do This Instead. | Sean Rakidzich | YouTubeToText
YouTube Transcript: Do Not Use AirDna! Do This Instead.
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Summary
Core Theme
This content argues against using AirDNA for Airbnb market research, highlighting its data inaccuracies and limitations, and instead advocates for a free, more effective method using the Airbnb platform itself for competitor analysis and identifying profitable opportunities.
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do not use air DNA I promise I'm going
to give you multiple reasons why that if
you rely on them for data to pick up a
new Airbnb property or to do comps on a
property you will lose money like every
single time I also promise I'm going to
give you a better way that anyone can do
all over the world and bonus is it's
free you can do as much research as you
like on any type of property in the
world and it's going to be free I've
done this system for like 8 years and
even though it's not easy as 1 two 3
you're going to have to learn something
here so sit down and get ready it is
accurate and it works and my students
have picked up over 5,000 airbnbs using
this system of market research and
competitor analysis so yes I'm going to
give you both let's begin welcome back
Airbnb family this video is going to
correct some misinformation on the
internet to do so I have to give you
something I've never given before some
of my sauce now first the reasons why
you should not use airdna the reasons
why it's bad for your business is first
the thing you're actually afraid of
which is the data is inaccurate let me
tell you why airdna collects data three
different ways one they scrape the
internet for data two they have
Partnerships with Channel managers like
guesty toi not all of them though and
then three you can log into airdna and
get pricing tips this is their most
premium data but they have almost no
listings using this software out of the
millions of listings on the planet very
few are going to air DNA for pricing
information by doing that though they
get to reach inside your listing and get
all of your information including all of
your bookings how far in advance they
booked for what the prices are
everything that is really good data but
you may have saw in a recent video about
doing analysis on another Airbnb channel
here on YouTube someone was looking at
airdna data and they would go to click
on a listing and then the listing
wouldn't even exist anymore so now let's
go to the second one hot tub and
pool great let's take a look here let's
open the Airbnb listing oh doesn't even
exist anymore great bad data so now our
top two comps here don't aren't even
reliable data so now we know that the
highest 32 in the 78723 zip code at a
minimum is going to make
88,89 bucks but now I still have to
corroborate and make sure that even this
data is good so let's take a look
here let's open it up on Airbnb doesn't EX
EX
not reliable data what that shows you is
the Scraper on air is pulling
information from listings that it
doesn't have access to if airdna had
access to that listing through a channel
manager or a direct connection they
would have known that the listing had
disappeared and it would not have even
populated on a further in that example I
promise this is helpful that's why I'm
bringing up this other video's mistakes
if you pull a listing because it's the
best comping listing in a city City
makes the most money and then you click
on that listing and it doesn't exist
anymore and you do that for 1 2 3 four
listings all of the best listings on
airdna don't exist isn't that a red flag
that the best listings that made the
most money according to air DNA's data
didn't stay in business would you think
that profitable listings would stay in
business so for that reason we cannot
rely on past data that airdna has
because the future is now we want to
look at list today what they're making
today what they are actually making next
week and air DNA cannot give you that
data they cannot tell you what a listing
is making next week they only go back to
see listings that made good money right
after covid and that's why these
listings are going out of business
because within the last year when it was
good and no longer they failed but that
brings us to number two air DNA cannot
give you the why a listing is doing good
or bad they'll give you the size of the
listing the amenities they'll give you a
link to the Airbnb listing which is a
start but air DNA does not say that this
listing is doing bad because a host did
a bad job you can only read the reviews
but you can't tell if a host is not
changing their prices or if a host's
photos are bad or if a host's design
style is completely amateurish and
nobody wants to stay there there's so
much to factor into a listing success
that air D can't give you and guys that
should be enough right but there's one
more air DNA as a means to identify good
opportun unities cannot tell you what
the X Factor is on a listing it can't
tell you why a listing is doing better
than anyone else for reasons that are
just not obvious for example changing
your prices is something that everybody
should do that can't be the X Factor can
it having cool amenities seems like
something that everybody should do can
it be an X Factor the fact that the
listing is blue instead of green how
could that possibly be the X Factor
there's a way to find this out and the
free resource that I want to give you to
use today to do all of your research
including X Factor research like this
and what I call competitor analysis is
the Airbnb platform fire up your laptop
I'm not even going to look at my
computer I've done this so much let me
just walk you through this by memory
fire up your laptop and go to the Airbnb
search when you go to airbnb's platform
and search you're going to get a top bar
where you can type in a city date range
number of guests while you're on this
platform you also see what Airbnb is
pushing you right now in 2024 it's a lot
of stations they're going to take your
PIN right now and give you stuff that's
within a couple hundred miles a lot of
times they'll give you categories at the
top you guys have seen that landing page
but I want you to search for a city
let's say we search for Dallas in this
example and search for six guests and go
to I'm flexible something I'm going to
give you here are some terms that are
part of my course my program there's
something called a global search that we
do which is simply I'm flexible by
searching I'm flexible it's going to
pull all of the best listings for any
range of dates so pick any week I'm
flexible and pick every month for the
next 8 months and hit go now you
immediately have all of the listings
that airb be's algorithm is pushing this
is a huge advantage against air DNA
automatically air DNA pulls a map of all
the listings and all the comps that they
think that they've done outside of
airbnb's current algorithm this is
really powerful airdna cannot tell you
which listings that they're showing you
are the ones that are performing best
right now but Airbnb gives you that loud
and clear when you search it will give
you the top 15 18 25 50 listings on the
first and second page of search these
are the listings that Airbnb says these
are the most likely to get booked and
Airbnb has all of the internal data that
we don't get to see to feed the
algorithm to give you that this is data
that you can trust we then want to
remove new listings the reason why is
Airbnb does give listings a boost when
they're new so part of this population
is Airbnb giving new listings a shot so
take all of the listings that have a
good amount of reviews and we're going
to start there bonus is none of these
listings will cease to exist when you
click on them you're not going to waste
your time looking for stuff that
corroborates on one platform to the
other and now I know what you might say
but air DNA gives me all of this data on
the listing when I click on it yes yes
so does Airbnb I'm going to show you how
to get that data go to the calendar and
search you're going to notice that with
I'm flexible it picked a range of dates
this is another thing I didn't expect to
give you so let's back up when you go to
click on a listing you're going to see a
range of dates under every single
listing if today is May 1st for example
which you probably will see this video
by May 1st it should say this listing is
available from May 10th to May 15th or
from June 10th to June June 15th any
listing that is available farther in the
future implies that their calendar is
booked until then it's giving you the
first five dates that it's available so
when you look at listings try not to
only look at listings with lots of
reviews but ones that also aren't
available for three or four weeks that's
a sign that they have bookings this is
just going to save you time because if
you click on listings that have no
bookings we can't do the next step that
I'm going to show you here I also need
to tell you we're going to look at one
listing at a time I have a hack that
allows my students to batch a ton of
listings together and then visualize
that data also for free it's so powerful
that we use it when we do Revenue
management to not just for market
research but when we go to change your
prices and we want to see what our
competition's doing this hack allows us
to create a dashboard to make pricing
decisions that is not free that's some
of my best sauce you have to join
cracking super host if you want me to
coach you on the rest of what this video
doesn't give you but commercial aside
let's get back to this next step when
you look at this new listing that you
clicked on and you go to its calendar
it's going to show you the dates that
are available if you go and scroll left
or right you can see what days are
booked and what days are not booked
you're going to need to trust that this
listing is a full-time Airbnb if it has
a lot of reviews The Host has multiple
listings you can expect this listing to
be full-time because most of the
listings that you find at the top of
airbnb's algorithm are full-time
listings if you would like to know why
that is leave that in the comments and
I'll answer any questions that you have
about the Airbnb algorithm in the
comments and are you ready for something
really cool about the calendar you can
see the prices if you click on a Monday
and then click Wednesday or Thursday you
already get a ton of data you can see if
they have a 1 Day 2 Day 3 day or 4 day
minimum length of stay and you can see
their prices for that date range and
when you search for other dates you can
see if those prices change this is
already so much information if their
prices change that might mean that
they're using a pricing software but it
also means that they know enough about
this industry to change their price
based on supply and demand if they're
doing that based on Supply or demand or
they're using a pricing software you can
go through all of their months and see
which months are projected to be their
best months so you can see their peaks
you can see where they're most
optimistic on price you can see where
they're driving price down you can then
also see chunks of grade out dates on
their calendar if you pick the right
listing and you can look at the prices
before and after for the weekend before
or after and you can make a good solid
guess what those prices were before they
got booked because if every weekend is
$550 for two months and in there you get
a booking for one weekend you can guess
that it was $550 a night for that
weekend can't you you do this for
weekdays you do this for weekends and
you can start to extrapolate or to infer
what prices are now you look at all of
those blocked out dates and you start to
do a little bit of math looks like
they're getting $200 a night for their
weekdays 400 a night for their weekends
they've got 12 weekdays booked they've
got 10 week end's booked over the next 3
months you can then use this data to
piece together how to get their monthly
revenue for the rest of the year how to
do that exactly is a few more steps that
would make this a longer video so if you
want me to make this completely black
and white and easy to give you all of
the math for one listing for an entire
year send me a message on Instagram or
somewhere so that way we can have a
conversation about market research on a
broader level otherwise this would be an
hour but if you get the concept for this
let's move forward we also want to look
for if this listing is making mistakes
for example if they have dates available
over the next couple of weeks like very
near future and they're still holding on
to a 4-day minimum length of stay or
even just a 3-day minimum length of stay
that means they're not responding to the
truth which is that they're running out
of time to get bookings and their length
of stay minimums should be changing per
strategy this is a pricing strategy
thing that a lot of people skip is they
don't realize that the longer you
require a length of stay to be the less
guests can see your listing this is cool
if you want to do this 4 months into the
future future I don't exactly advise
this there are other more efficient ways
in my pricing strategy to get good
results but even if you did do that
because it makes it simple last minute
you can't afford to take that risk you
should be allowing two day one day stay
even sometimes to get your calendar
completely full if someone's making
mistakes like this or if their hero
photo which is their first photo is a
photo of the bedroom that's already
inefficient if the photo quality is low
if they have a bunch of redundant photos
if they've got some ugly photos in their
listing there's sorts of things that we
can determine are mistakes on their
listing every mistake that we're looking
for is to try to prove that this is
somebody that we can beat if we can
determine that a listing is both
profitable and that host is nothing
special then that should give us
confidence to get into a market because
if we're looking at the very best
listings and that host is near perfect
we can't pick apart anything wrong with
their listing how confident do you think
you are that you can compete with that
listing and this is a serious lesson my
friends I teach all of my students this
we're not looking for the best listings
we're looking for listings we can beat
if you can do comps and find
profitability where you can mop the
floor with somebody then you have an
opportunity to do business because
Airbnb isn't just buying a property and
letting somebody run it I know a lot of
you would love passive income and you
can get there in time Building Systems
and building teams but if you buy a
property and then you hire a co-host who
you don't know enough about Airbnb to
know that this co-host is amazing or not
you give them 25% of your revenue and
you give them a property that you think
is kind of like the best listing in the
city they won't make as much as the best
listing it's just going to be that way
and then you're going to give them 25%
of your revenue and you're going to lose
money because you did not know what you
did not know and they did not know
enough to stop you and you're going to
pay them 25% to run a listing you think
they're going to stop you from buying a
property no they want you to buy any
property and give them the keys that's
how co-hosts work they're not there to
protect you and then you're going to
notice something else The X Factor
Beyond finding listings that are
amateurish that are still making money
you're going to find a listing doesn't
exactly seem special on paper one that
doesn't comp well by all of your
standard metrics bedroom count number of
bathrooms total square feet yard size
the date that it was built your standard
amenities you're going to find listings
that you'd think wow this should make an
average amount of money because by all
of its black and white numbers it's an
average property but then you find out
that it's crushing it and then you have
to look at that listing long and deep
look for The X Factor is it their design
style are they using a certain type of
texture or color is it plant walls are
they using brick do they have Ved
ceilings is there exposed wood do they
offer things in the property that are
eclectic and fun is it just that it's
the only four-bedroom property in the
neighborhood is it just that it's the
only Studio property in the neighborhood
there are so many things that a listing
can have that makes it novel that makes
it unique and an X Factor compared to
the competition or as you could call it
an outlier when we find outliers that
are making tons of money that don't cost
a lot of money to hold but have a big
return those are the listings we love to
copy because if there's only one or two
listings in an area that are crushing it
for no good reason and we can find out
what that is we can be the third and
what's so great about these listings
that have X Factor a lot of them got
lucky they have no clue what made them
so great they're just making good money
there are some hosts in places like
Dallas San Diego Miami who have nailed
this recipe so yes you'll find xfactor
listings in these major cities and it is
being duplicated and replicated and
people are crushing this is what you can
do in regular siiz cities but to finish
the point these people who aren't that
good at Airbnb but got lucky because
they have that X Factor you can be a
better host than them but also maintain
that X Factor that they accidentally
gave you the recipe for there are
hundreds of little factors on a listing
that if you can see them you'll know
exactly what kind of host they are
you'll know exactly what kind of Market
they're trying to tap into and there are
things that I would not dare give for
free on this video that will tell you
exactly how many reservations someone
has every single month that you can see
for free right on Airbnb so if you want
a serious business-minded approach to
starting an Airbnb business one that is
designed to be competitive and put every
other Airbnb host out of business we're
not being playful here we're here to
make money right if you want to make
serious money as an an Airbnb host and
treat this like a business then reach
out to me because even more than being
an Airbnb educator on YouTube I'm a
business owner with a 14 years of
experience I built four separate seven
figure businesses in many different
Industries I coach business as well as
Airbnb and I can take all of that and
give that to you so you will be a great
host and business owner and if nothing
else if you hire a co-host you'll know
enough about this industry that they
cannot BS you and put you out of
business by accident thank you so much
for watching watching this video all the
way through to the end please send me a
message on Instagram if you want more
information on how to do market research
or of course anything else and please
leave me a comment with questions about
market research the algorithm or
anything else that you want to know
about Airbnb I'm here to help you guys
as always my friends I'll see you on the
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