At ShareGrid, we strive to maintain a competitive yet fair marketplace for all our members. If you come across a rental listing that seems priced too low, don't worry! We have some tools in place to help maintain fairness in pricing.
To encourage fair pricing, we reward owners who list their gear close to the average market value for that equipment. These members receive preferential ranking in search results and enjoy other benefits.
However, we understand that sometimes rental listings are priced too low. When Owners list their gear for rent, our system will let them know if the pricing needs to be higher based on community averages. This algorithm applies to all categories, products, and communities, so you can be sure we’re committed to keeping things fair.
Let's take a look at what happens when a listing is priced too low:
Lower Search Rank (Best Match): If your listing is significantly below the average price, it will be removed from our Best Match searching tool. Best Match is the most popular way for members to find gear, so we want to ensure the best results for everyone.
No Featured Spots in The Newsletter: Unfortunately, your listing won't be featured in our weekly newsletter if priced too low. Our newsletter generates substantial traffic for featured members, leading to more rentals. So, it's beneficial to keep your pricing within a reasonable range.
No Free Promotions: We invest in paid advertising (Facebook, Google, etc.) to promote our members' gear at no extra charge. You'll miss out on this extra perk if your prices are too low.
Ineligible for Elite Badges: Our Elite badge marks excellence within the community. If our team notices that your low prices negatively affect the community, we'll provide a warning and suggest a more competitive yet fair price. All members need to contribute to a healthy marketplace.
We understand that these measures may seem strict, but our goal is to maintain fairness and foster a positive environment for all members. Instead of imposing strict parameters, we discourage outlier pricing to benefit everyone involved.
So, when listing your gear, consider the average market value and price it competitively within that range. This way, you'll have a better chance of ranking higher in search results, getting featured in the newsletter, and enjoying other benefits with fair pricing.
If you have any questions or need assistance with your listings, our friendly customer support team is here to help. Let's create a thriving and fair marketplace for all our ShareGrid members!