In what type of market might an agent ask the multiple buyers who have submitted offers to submit their highest and best?

In a cold market, the supply of properties exceeds the demand, resulting in fewer buyers and less competitive pressure. In such a scenario, agents are less likely to ask for highest and best offers since buyers have more negotiating power and sellers may need to lower their expectations to attract offers.

A neutral market has a balance between supply and demand, meaning that neither buyers nor sellers have a distinct advantage. In this scenario, the competition is typically less intense, and agents are less inclined to request highest and best offers since the negotiation process can be more straightforward and less urgent.

A stagnant market indicates a lack of activity, often due to overpricing or economic factors deterring buyers. In such conditions, buyers are not competing aggressively, and agents would not typically ask for highest and best offers, as sellers are more focused on attracting interest rather than maximizing offers.