Listing broker Benny receives an offer from buyer #1 on Tuesday at 3pm which expires the following day at 3pm. At 1pm on Wednesday, the broker for buyer #2 contacts Benny and asks if there are any offers. Benny tells buyer #2 that indeed there is another offer, but that he’ll stall on presenting buyer #1’s offer until 6pm, allowing buyer #2 enough time to submit their offer. Benny calls buyer broker #1 and tells him he can’t present the offer until 6pm when his client gets home from work.
Buyer #2, knowing that the seller has another offer decides to offer list price on the property, which the seller promptly accepts without any kind of counter offer.