After consulting with my colleague
Doesn't sound like he even presented the offer to the owner.
But it could be that the owner is the stubborn type. I wouldn't be surprised if the agents are not motivated to push the negotiations forward. We had that with an existing property. Almost no willingness to negotiate even though the price was set high. We still wanted it because it suited us personally very well.
In our case, the bank didn't cooperate.
When we personally informed the owners of the bank's valuation, the (nice) owners were shocked. The agent had done the valuation for them at the time and came up with a value about 20% higher than the then asking price. That already caused trouble with the owners because they "had to give up so much."
In the end, we decided to build ourselves. A few weeks later, we received a call from the agent asking how much we would be willing to pay. At some point, he probably sold the place... at a much lower price.
In short: some sellers are promised a much too high price by the agents just to get engaged. If they then have to re-list with a lower price due to lack of demand, as in your case, their pain threshold is already reached. There's no negotiating anymore.
The only thing that helps is to stay cool and wait/look around.
Or you are willing to pay the price...