Estate agent listing details of offer received

What does it mean when an estate agent makes a statement about the offer they have received on a property?
It usually means it's a reposession.
ESTATE AGENT NAME are now in receipt of an offer for the sum of £X for ADDDRESS. Anyone wishing to place an offer on this property should contact ESTATE AGENT NAME before exchange of contracts.
In my opinion it's not worth the effort of interfering - you'd only up the price of the property and you don't know how keen the others are to buy. There are more than enough properties about to not get in a bidding war.
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