In this episode, Chris Maughan of I-PRAC talks about the high incidence of fraud in the short-term rental marketplace and how a verification process can work to take the fear out of guests’ minds and drive more confidence in the direct booking process.
Check Out this Amazing PODCAST episode when host verification leader I-PRAC’S CEO Chris MAUGHAN and Industry veteran and leader Heather BAYER discuss just how important showcasing TRUST is, and how I-PRAC verification platform and approval is the solution to an industry plagued by fraudsters damaging consumer trust and effecting reputable and trustworthy operators from building direct booking businesses.
For a guest booking with an online platform such as Airbnb, there’s an emphasis on trust. It’s one of the primary ways they persuade guests their platform is safe to use and why ‘off-platform’ whether booking or messaging, is somehow sending them off to the dark side. And it’s also why we should be paying attention to how we can build trust and confidence with our guests.
In a time where we are dealing with the potential of fraudulent activity such as phishing, listing scraping, and scams, creating a great relationship with our guests from the first contact becomes a priority. For owners there’s a feeling of confidence their incoming guests are who they say they are and will take care of the property; for travellers, there is the surety the property exists and they will arrive to the welcome they expect.
If you are not showcasing TRUST to your potential guests then you can not complain when someone chooses not to book with you, 7 out of 10 enquiries do not convert to rentals due to the guests TRUST in the provider, and more often than not most guests return to an OTA platform to book with confidence, not knowing that OTA’s are probably one of the biggest platforms for fraudulent operators due to the fact their is NO barrier to entry.
Its also known that many operators don’t fully understand the psychology of consumer trust in the “Short Term Rental Market”, as expecting guests to pay upfront for a property they have never seen, and to pay a property owner or property manager they have never even met is actually a scary thought… Many operators believe that previous reviews, or a great website are enough to convince guests to trust them, however this is certainly NOT the case, and guests need much more to engage and tick the psychological tick box of trust.
The future of TRUST is third party verification, showing your potential guests you have passed an in-depth approval process by a third party verification body..and that their bookings with you are not only safe and guaranteed, but also their payments to you are protected 100% against FRAUD…for more info on verification visit www.i-prac.com
