Incorrect pricing

[Corey147]

Hello, I added my listing today and agreed to do the 20% discount to get people in the house. It took 20% off the minimum and then I learned the minimum suggested was already way to low. Now I have a 4 night booking for what 2 nights should cost. Should I cancel it and admit the pricing mistake? Suggestions?

[Jim472]

I'd recommend you to suck it up. I screwed up my 1st time too, fortunately it was only for 1 night and quickly fixed. My 2nd booking was for 1 month and that would have blown. Treat it as a learning experience and roll with it. In the grand scheme of things it is only half of a percent of the total days in a year. 

[Sarah977]

@Corey147  I suggest you learn what cancelling a reservation does to you as a host. The dates you cancelled will be blocked by Airbnb, so you can't rebook them. You will be charged a $50 fine. "Host cancelled this reservation XX days before check-in" will appear on your review page, which makes guests reluctant to book with you. 

I agree with Jim, suck this one up and take it as a learning experience. We all made boo-boos in the beginning.

Do not pay any attention to Airbnb price tips. They are absurdly low. Price what you think it's worth, according to similar listings in your area. And there is no reason why you have to do the 20% discount, either. New listings get a boost in search rankings for awhile, so your place should be quite visible- don't sell yourselves short in the future.