Need others experience/input

[Perry Ivy]

I placed an offer of $55,100 on a bank foreclosure and my realtor called back the same day and asked if I wanted to increase my offer due to multiple offers from others. I then increased my offer to 57,200 and then my realtor called me today, gave me the same spill and asked if I wanted to increase my offer, to which I said no. The initial asking price is $59,900, so I'm not far off, but I'm wondering if I'm being played. I trust my realtor, but he's not the listing agent. Any insight into this matter would be appreciated.