We've ALL been there and probably more than once!
We are writing an offer on a bank-owned property. You decide it makes sense to call the listing agent in front of your buyer and ask "Are there any other offers on this property?" You repeat to your buyer who is hoping for a "no" that in there are already 
multiple offers on this property.
You hang up and tell your buyer that they need to come in "highest and best". You repeat that the house is listed at $154,900 and comps are showing that the home is priced really well. Three almost identical homes sold in the last month for $165,900, $166,500 and $168,900.
You wait for your buyer to process what you just said.
"I think $144,900 is a good price to offer. What do you think?"
I have no problem telling them "I think, since you are asking, that you are wasting paper as well as everyone's time. Someone is going to come in AT list and someone is going to come in $100 OVER list. Your offer will go in the trash."
I don't know why buyers can't grasp "Highest and best". I just don't get it. I've had buyers that know better because they lost 5 houses to the "highest and best" and just don't get it! Sometimes I'm lucky and a buyer finally gets it and listens to me and they get the house.
I'm waiting for one right now....my buyer came in at list price and I'm praying everyone else's highest and best was low!
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