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Sigh; It's merely a strategy/concept to facilitate a better price for the Vendor and in a timely manner. Unless there is a written instruction from the Vendor, the agent can play all sorts of games to achieve an end, and the agent can always take the low-ball to the Vendor after he/she has...

It doesn't really matter too much - the agent can use his/her discretion and/or preempt what a Vendor might be willing to accept or knock back, and play a bit of a white lie game with the buyer. Not totally ethical, but it sorts out the tyre kickers from the real buyers and stops everyone's time...

The written instruction shouldn't need to be even mentioned. A smart r/e will already know what the Vendor's likely sell price range is, and when buyers put in an offer, and the offer is ridiculously low, the agent should already have the reply ready; "The Vendor has already knocked back an...