Need to vent

We’re trying to buy a house and we saw one we really loved but it was priced high and it is only 1100 sqft. But it’s fully remodeled and totally move in ready with high end upgrades so our realtor figured they wouldn’t really negotiate because of that, plus it’s in a desirable neighborhood. We told our realtor we loved it but it’s a lot for the size and wanted to keep looking. As the search went on we weren’t finding anything and then our realtor got a call from the listing agent saying they just cut the price of that listing by 40k if we’re still interested. The house had been on the market for over 50 days with no bites. We put an offer in less than an hour later and we were told it was the only offer. We went slightly above the new price and put in that we’d pay closing and 27% down. We decided to be a bit aggressive because we really love it and wanted to secure it. The listing agent told our agent we’d have an agreement the next day. Well it’s now been almost 3 days and still no answer on our offer. They’re still showing the house and now it’s getting a lot more interest because of the new price. The seller is collecting more offers in what I think is an attempt to start a bidding war to up the price again. I know it’s their right to do that and this is just how it goes sometimes but I’m super bummed because we really want it and are probably going to be outbid.