The seller makes the decision whose offer to accept.....so even if you bid, but the seller prefers to sell to the neighbor with whom he may have a long-lasting friendship, the decision remains the seller's, not his realtor's..
Separating your question from your rant requires asking additional questions.
#1. Where are you seeing this property appearing as under contract? Please include an MLS #.
If you are not looking on the local MLS, you will need to ask the website administrator this question.
#2. Your real estate professional will have reviewed the submission instructions included in the listing information. Many instances this procedure is to be compliant with the sellers needs. Yes, the seller can define the type of offer they will accept such as: NO FHA or VA, Cash or Conventional only AND dictate what form the offer can be submitted on and when the offer will be reviewed by the owner.
#3. Did you actually have your real estate professional submit an offer to purchase this property? No need to continue this conversation no purchase offer was submitted by your real estate professional.