Interesting question. Just an FYI, it is unethical, and arguably illegal, for an Agent to disclose to you of other offers. Hopefully a listing Agent told your Buyer's Agent, in which case your Buyer's Agent did the right thing in telling you, while the listing Agent would have really .... well, fill-in the blank. IF the listing Agent told you that directly ... wow!
Short sales, most often, take forever, especially if the Seller has not completed their hardship package with the bank(s). I just withdrew one on behalf of a client after 2 months and NO response.
Be patient, give your best offer up-front, and keep looking ...
Derek Bauer, Associate Broker
Real Estate One