23 Replies Latest reply: Oct 11, 2019 8:19 AM by gbpack5 RSS

    Market Rank - What is the correlation?

    walthrj New Member

      As of today I have the following metric rankings: Acceptance Rate Ranking  1, Cancellation Rate Ranking 1, Review Count  Ranking 22,  Review Average Ranking 109.  In addition my metric rank for Bookings is 22, metric rank for Property Views 72, and metric rank for search results is 37.  How does this result in a market rank of 243 of 303 properties?  Just asking.  Cannot get an answer from Vrbo.  Also in market maker my search position is 1-5 for most open dates.

        • Re: Market Rank - What is the correlation?
          db.meyer Senior Contributor

          I have similar #1 rankings yet near the bottom in market ranking.  The only factor not mentioned but that I have determined to be the "key" factor, is that all of the listings above mine are "instant book" (and most also are large PM properties - Vacasa, Evolve, etc.) and I am not.  Are you "instant book"?

            • Re: Market Rank - What is the correlation?
              walthrj New Member

              Thanks for the feedback.

               

              I am not "instant book".  It's unfortunate if not having "instant book" carries so much negative impact on the market rank.  I noticed the large drop in market ranking about 90 days ago. Over a one or two day period my ranking dropped from about 60 to the mid 200's hitting a low of 257 of 303 properties.  While my other individual rankings have continued to improve the market rank has only rose slightly.

               

              I will follow-up on the "instant book" use by other properties in the area.

              • Re: Market Rank - What is the correlation?
                troelso New Member

                I don't think Instant booking has something to do with it. I have instant booking.


                I went from market rank 1 to 46900 of 46900 over night. I started my marked rank around 46.000. Over the months I improved frequently and went to no. 7 out of 47.000 properties in area. And after a few more weeks I was ranked no 1. Then suddenly from one day to the next I went to number 46900 and have been so for a week or 2. My current result in the past 52 weeks are: Acceptance rate 100% = Metric rank 1, Cancellation rate 0% = Metric rate 1, Review count 15 = Metric rank 746 of 47000, Review average 4.93 (14 x 5 star and 1x 4 star) = Metric rank 3652 of 47000, Bookings = 58 (334 days in 2019), Property views last 30 days 1,336 (going down rapidly last week) = Metric rank 117 of 47000. Is there someone who knows what is going on because from the statistic it is easy to see that I should not be at the bottom of the marked ranking

              • Re: Market Rank - What is the correlation?
                u0999 Premier Contributor

                phew, my are even more weird. It is their secret sauce that does not make sense in plain math. My suggestion just ignore it, it is what it is, and just focus on other marketing efforts.

                  • Re: Market Rank - What is the correlation?
                    walthrj New Member

                    Thanks for your reply.  I think the term "secret sauce" is too kind.  There should be more transparency used in explaining the overall market ranking.  If not using "instant book" is a significant impact on market rankings, it should be disclosed to the owners.  How does an owner know what he needs to do better if the criteria used to evaluate the ranking is not disclosed to the owner?

                  • Re: Market Rank - What is the correlation?
                    timthek Active Contributor

                    They only show you FOUR ratings...but those four aren't the only factors that contribute....they are just the only ones they show you. I think a major factor is availability. I have one listing that is fully booked through August. So my availability is ZERO. My ranking has fallen steadily through the year because as we got into prime season there were no openings. VRBO doesn't want to show your property when it is unavailable....they want to show open properties. So booked properties will drop down the rankings. As we approach September and I have availability, I think that my ranking will climb.....but I don't really care.

                    • Re: Market Rank - What is the correlation?
                      moosebigd Active Contributor

                      I have experienced similar situations as you...  I get a booking and my rank drops, which goes with what timthek theorizes.  I do like to watch the numbers of my metrics only because I keep an eye on all aspects of the website that directly affect me.  But I do not put much value in those numbers even though it does bring a smile when I'm in the top 10%!  What should be of more concern is your search position.  As long as I am on the first page of my area search, I'm happy.  If I'm in the top 10, I'm ecstatic.

                        • Re: Market Rank - What is the correlation?
                          walthrj New Member

                          Thanks for your response.  I wish there was more transparency in the market ranking.   It's difficult to hit a target you can't see. 

                            • Re: Market Rank - What is the correlation?
                              moosebigd Active Contributor

                              But how much accountability do these numbers have when the algorithms used to calculate them are flawed?  For example, the one metric is for the number of reviews received.  You might have 12 one week rentals over the summer and get 12 reviews.  However, I might have 3 one month rentals and get 3 reviews.  I have fewer reviews and therefore get a lower rank even though we both have rented an equal amount of time.  And this directly affects Premier Partner status, which is good for allowing me to see guest information before accepting a booking, if for nothing else.  That is why I keep tabs on the numbers but have greater interest in search placement.

                          • Re: Market Rank - What is the correlation?
                            walthrj New Member

                            UPDATE.  My market rank has jumped in two months from 243 of 303 to 6 of 308.   Acceptance Rate Ranking  1 (no Change from 2 months ago), Cancellation Rate Ranking 1(no change from 2 months ago), Review Count  Ranking 12 (up from 22),  Review Average Ranking 141(down from 109).  In addition my metric rank for Bookings is 29 (down from 22), metric rank for Property Views 71 (up from 71), and metric rank for search results is 101 (down from 37). How the heck does that happen within 2 months? Oh the mystery of the VRBO algorithm.

                            • Re: Market Rank - What is the correlation?
                              calicalling Active Contributor

                              Hi, walthrj.

                               

                              I have 4 properties that are all in the same market -- all in the same building, a quad-plex and in the same comp set of 2265 properties. They are nearly identical-- all 3 bed/3 bath with 1900+/- square feet and exactly the same amenities, exactly the same location. That makes it easy for me to make comparisons and do some A/B testing (or A/B/C/D haha!).

                               

                              I don't actually have an answer, but I took the time to get some snips for you so that you can see that these 4 ranking metrics really *don't* correlate to market rank. These 4 identical properties vary from 123/2265 to 569/2265. You would think the properties with the best Ranking Metrics would have the highest rank. But no.


                              My personal thought is that my properties' difference in overall rank is based on guest search behavior. What they click on... what they view most, etc. But to be honest, that's a WAG.

                               

                              Observations:

                               

                              1. All 4 of these properties are ranked #1 of 2265 properties for most metrics. No telling how many others of that 2265 are also "#1." So being #1 really doesn't mean anything at all. (Full disclosure, I have others in this same market and set of 2265 and they also have the #1 ranking for many metrics, too. I didn't include them here because they aren't identical, but they do compete in the same 2265.)

                               

                              2. My property with the worst metrics actually has the 2nd highest rank among them (159/2265). The property with the best metrics has the worst ranking (569/2265).


                              3. The properties with the highest ranking are actually the most expensive, and the most booked. That is in contradiction to the suggestions I hear from other owners about the cheapest, most-open calendar properties being the highest ranked. For sure my more expensive and more booked are higher ranked-- even with lower Ranking Metrics.

                               

                              charmrank.pngmooserank.pngNestrank.pngrusticrank.png

                              • Re: Market Rank - What is the correlation?
                                gbpack5 New Member

                                I'm also confused about my market rank.  I'm on Instant Booking- I have been for over a year, and I am a Premier Partner.  I couldn't be ranked much lower?

                                I don't have a high # of bookings and reviews, but the bookings tend to be longer 30 days +

                                Market_Rank_Oct_2019.png

                                  • Re: Market Rank - What is the correlation?
                                    bonesxxx Active Contributor

                                    I think it's been determined (and confirmed by HA Mods) that the algorithm used to calculate market rank is: 'too complicated and secret for us mere mortals to comprehend'.  There is no secret to gaming it.  The only secret is how it works (or doesn't in your case).

                                     

                                    As a side note for you gbpack5, you should immediately search on 'tenant rights for short term rentals'.  There have been other threads about it and the internet if full of horror stories.  If you are taking bookings over 30 days, I hope you use a long-term rental agreement and take other measures to protect yourself.  Depending on your locality, a renter may establish tenant rights after 30 days and you would need to follow the eviction process to get them gone -- which can take up to six months.  There is a rather famous case in San Francisco of a woman who accepted a short-term rental and, as soon as the guests achieved tenant rights, they set up a server farm in her apartment and stayed rent-free for 90+ days.  It made the national news.

                                      • Re: Market Rank - What is the correlation?
                                        gbpack5 New Member

                                        I agree, I thought of placing a call to customer service this morning, but I'm not sure that will do any good with improving my rank

                                         

                                        Many thanks for the advice on the rental agreement!  Not too long ago, I had the terminology in my rental agreement changed. It was reading through one of the threads here that prompted me to have it changed    I can't imagine the nightmare that those SF owners went through