Most banks don't want to see every offer that comes in. The asset manager often directs the listing agent to market the property for several days (from 2 days to 2 weeks - depending on if they have a first look buyer or owner occupant rule). Then they will counter that offer. Until the counter is accepted, the property is not in contingent status. So if they have already submitted the offers to the lender, the lender has chosen one to counter and is waiting for the buyer's reply, the property will remain in active status in the MLS even if they are no longer taking offers.
Its a common practice.
Going around the listing agent is not going to get you anywhere, unfortunately. Hopefully you've heard all of this from your agent already.
Best of luck.
Thanks for your reply! The thing is, we haven't been able to get a hold of the listing agent at all, it's all been this lady who's replying to his emails. The thing is there was never any explicit instructions on how many offers they were accepting or whatnot, so that's why both my agent and I thought we could submit an offer. But instead we have this random lady telling us they are no longer accepting offers.
If you feel the agent is acting inapproiately call their Broker or the Realtor's Board in your area.