I don't see anything wrong in writing offers that are below list price. We do them all the time specially since we have experienced cases where our own Bank-Owned listings have been over-priced.
The criteria we use in writing offers that are below the Listing price are :
1) Days on the Market. If the property has been on the market past 30 or more days in hot markets, it could be headed to an auction. We recently secured a home for one our buyers with 78,000 below list price.
2) Cash Offers - In most markets cash still king, unless you are over-bid by 20 other offers. But if you are writing cash offer, most sellers expect you to pay less that competing contingent (Loan) offers.
3) Terms - If you are willing to close early, that's very valuable to corporate seller.
4) Contingencies. If you are writing clean offers without any contingencies and property needs a lot of work, that's valuable to the seller.
We always tell our buyers that List price is just a reflection of a seller's opinion. It should NOT determine the buyer's money rules. As a buyer your agent should give you enough information to justify your maximum price you are wiling to pay for a property and you should NOT move from that.
It's YOUR money rules and not your agents nor the seller's.