Ep 65 - Why Top Hosts Earn 3x: Jeff Stibbard on Photos, Reviews and Pricing

Jeff Stibbard has run the same training company for more than 30 years, and for the last decade he has pointed all of that systems and performance experience at short term rentals. He now runs six properties, four he owns and two on rent arbitrage, including a four bedroom home in Surry Hills that books at $1,000 a night while similar properties sit at $330.In this episode Jeff explains the three things that separate a top earning listing from an average one: photography, reviews and furniture. He makes the case for going multi channel from day one, explains why he is deliberately avoiding AI in guest communication, and why he would rather hold his price and accept a vacant night than chase occupancy. Ray gives an update on his move to Guesty and multi channel distribution, including what changed with payouts and cash flow, and Silvia raises the peak season pricing mistake she keeps seeing new hosts make.Chapters00:00 Welcome00:20 Weekly topic: Ray's move to Guesty and multi channel03:45 Does your co-host need a trust account06:40 Meet Jeff Stibbard08:35 The infrastructure behind six properties09:50 Inside the STR intensive programs12:35 The 3x earning gap: photography, reviews, furniture15:30 Multi channel, and where the bookings actually come from18:00 Calendar sync and avoiding double bookings21:00 AI, automation and the personal touch26:00 Review culture across platforms27:10 The most costly mistakes new hosts make29:30 Testing photographers and the hero shot31:00 Repainting stairs and choosing robust materials34:00 Do not put heirlooms in your listing36:30 Pricing: smart pricing, engines, and holding your rate42:25 Silvia on peak season pricing mistakes44:30 Rent arbitrage versus owning the asset49:25 Regulation, the 180 day rule and development approvals53:35 Jeff's advice for anyone getting startedFind Jeffwww.discoverperformanceadvisory.comInstagram: @discoverperformanceStay with usRay's South Yarra Airbnb: https://www.airbnb.com/slink/I2cCaaW5Ray's North Melbourne Airbnb: https://www.airbnb.com/l/KGfcunu3Silvia's Airbnb: https://www.airbnb.com/slink/Kpse4K4XRecorded on Riverside. Use code RAY15 for 15% off.