The good old boy approach of working a transaction with another agent. Especially found in small communities where the real estate agents know each other well. Big cities are filled with agents that are just as guilty. A mutual trust to verbally work things through and trust the other agent is holding up their part of responsibilities on their side of the transaction.
I call that kind of real estate practice - relaxed real estate. Unfortunately in real estate one cannot afford to be loose on their responsibilities and ignore proper procedures. The best way for a contract offer to have success is to be written with full terms upfront. Counters in writing so they are not misunderstood. Time frames strictly adhered to so you there will be no legal outs for the contract or created exit tickets to terminate the contract.
It isn't a matter of not trusting the other agent or principals of the transaction, it is about protecting our client, our self and ethically taking care of business by meeting our responsibilities.
There is no Relaxed in Real Estate! You also will save a lot of time out of the court system too by avoiding the temptation.