Agent changed status to "Offers In Excess Of" matching our bid price.

[splendidmars]

Hi,
We put in an offer on a house. Agent called back and said seller is asking more. We mentioned this is in line with the prices of property sold on same street just a month ago. Agent said, seller may accept our offer but also open for new ones. Agent then reduced the property price matching our bid price on online portal and updated the status as "offers in excess of" (our bid price)

Is this normal ?

Withdraw. This is sneaky, and I bet there will be more sneakiness /no commitment down the line.

Next time you make an offer make it conditional on the property being removed from the market. The agent has said they'll accept your offer but is still looking for a higher one.

Yeah, always say '& the house comes off the market entirely' when you submit your offer. And even better, agree a timeframe to complete so they know you're serious. This is what we did.

I would go back and say that your offer will be withdrawn tomorrow if they haven’t taken the property off the market by then

Definitely don’t start spending any money (engaging solicitors/ surveys etc) until it’s been taken off the market

As above I would call back and say the offer is on the table for another 24 hours only. And I would also express interest in another property the agent has on their books, book a viewing for the weekend. Hopefully then the agent will go back to the seller and say look I advise you accept the offer, she's looking elsewhere.
But then yes make sure it is off the market and online portals before doing anything your end.

It seems they think they can get more. I’m not sure it’s sneaky as they habe not accepted your offer.

The agent will be doing what the vendor’s told them to, the vendor wants more than you have offered, and this is how they are going about getting it.
You have couple of options: withdraw your offer, or increase your current offer, or tell them your current offer still stands but is only the table until XX time and is conditional on no more viewings and removal of the listing from portals.
It depends how much you want the property and as everyone else has said, make any offer conditional on no more viewings/removal from websites.

I agree with Mumsnet.
It's not illegal but it's sneaky.
I would pull out or be on the lookout for more 'sharp practice' further down the line

The seller needs to make up their minds. Either they want to accept your offer or they don't. If they do they need to let you know within 24 hours. If not withdraw your offer.