680: Why Hosts Are Backing Away from Travel Sites and Building Direct Bookings w/Mark Simpson

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 27 October 2022

⏱️ 83 minutes

🔗️ Recording | iTunes | RSS

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Summary

Most people stumble into short-term rental investing. At some point, they realize a long-term rental, mother-in-law suite, or family cabin could become a revenue-generating, passive income machine. So what do they do? They go online to all the big travel sites, upload their listing, and start hosting. After a few months or years, they buy another short-term rental, and now, they’ve got multiple properties across a few different sites. The reviews are flowing, and the revenue with it. But one day, it stops. This happened to Rob when his listing got locked—halting his revenue. Without much of a way to repair this, Rob started thinking of how he could host with autonomy and reduce the risk as his portfolio grew. Sooner or later, Rob and today’s guest, Mark Simpson, started talking. Mark, an expert in hospitality, knew that something like this would happen. It’s why Mark has been helping hosts build their own booking sites over at Boostly. As a short-term rental expert, Mark helps hosts build an income stream that can’t be paused, limited, or removed. Instead, he and his team give hosts everything they need to get more bookings, pay fewer fees, and keep guests coming back for more. And, as the short-term rental space grows at lightspeed, Mark argues that hosts should start building out these direct booking sites now before it’s too late. In This Episode We Cover: The danger of solely hosting your short-term rentals on online travel agencies How so many hosts find themselves “held hostage” by guests and travel sites Building your “guest avatar” and modifying your vacation rental to fit your ideal guest Guest screening tips and how to safely rent your property on your own website Underrated upgrades to make to your short-term rental that massively boost bookings Effortlessly converting guests online travel stays and into direct bookings And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast BiggerPockets Merch Listen to All Your Favorite BiggerPockets Podcasts in One Place Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts Get More Deals Done with The BiggerPockets Investing Tools Find a BiggerPockets Real Estate Meetup in Your Area David's BiggerPockets Profile David's Instagram Rob's BiggerPockets Profile Rob's Youtube Rob's Instagram Rob's TikTok Rob's Twitter Stop Relying On Airbnb and VRBO and Build A Business You Control 4 Things You Need to Know Before Buying A Short-Term Rental Boostly’s Property Management Software List Books Mentioned in the Show: Short-Term Rental, Long-Term Wealth by Avery Carl The Book Direct Playbook by Mark Simpson Connect with Mark: Mark's Website Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-680 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the bigger pockets podcast sure
0:04.0	6 8 if you are a host or a property management company that is looking to grow and scale and if you
0:12.2	So more than 90% reliant on one channel for your revenue coming in you're playing a very dicey dangerous game
0:18.2	Because all it takes is for your account to get hacked
0:20.4	You're listening to get locked down or a couple of crappy reviews or a total algorithm change by every in the way suddenly you're on page one
0:27.6	And the next day you're on page five or six where nobody looks so it's really important that we flip that around and we look to get everybody to a
0:35.6	65% direct and then a 35% relying on third parties I
0:40.2	K.A.
0:40.7	O.T.A.
0:41.2	Hello everyone. I'm your host David Green of the bigger pockets podcast here today with my lovely co-host Robert Abbasolo
0:49.9	In today's show we're going to be interviewing Mark Simpson owner of Bruce Lee and
0:55.1	And UK resident who has some fantastic advice for us on how to book your short term rentals without using the online travel agencies Airbnb
1:06.1	VRBO and their milk rob first off. How are you today? And second?
1:11.2	What do you think about the show? That was okay first of all my hats off to you because you really went all in on that and
1:17.9	We did it all in one take you know most of the time that we would do that five times
1:22.0	But you nailed it first time so today's episode is really great. Man, I'm super excited. We even get to hear me dabble a little bit with my accent
1:30.0	Reba Twar and we get into the art of hosting and the idea of getting into direct bookings and when you should
1:36.7	Possibly consider making your own direct booking website over just staying on all the typical OTAs
1:42.3	Online travel agencies out there
1:43.9	So I'm excited to jump into it because I think if you're if you listen to today's episode and your short-term rental host
1:49.3	It might it might crack your brain a little bit, you know, and you might think okay
1:53.0	Maybe I should try maybe I should try something else. Maybe I should diversify a little bit
	...

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