There could be many reasons. One being someone offered all cash with no contingencies. It could be they could close sooner. That same thing actually happened to one of my buyers. Someone came in lower but the bank chose them over us because it was all cash. I sincerely doubt it was the seller or their agent's pick. Just remember what I tell my buyers.....if it was meant to be, it would have been. Keep looking, you'll find something even better I bet! Good luck!