Play along with it and it you lose it.. go back with a vengence. This can backfire and the listing agent may not present your offer after the fact, so If you choose to play the game.. you could lose.
Jut give it your best shot and get it over with.
By the way, if yours were the only offer on the table, it would be more normal to counter with what the seller wanted than to go to this procedure.
Bottom line: My advice, give it your best shot; you may not get a second.