Realtor not truthful about offer?

[Nancy Nelson]

So let's say your realtor  makes a 90k cash only offer for you on a foreclosed townhouse , submits it to the listing agent and three days later has to call listing agent to ask outcome. She is told that another offer came in higher, we didn't get it. Couple of weeks later the Mel's shows that the property closed and was sold for 88k? My realtor says that is common practice with listing agents... is that true? Anyone else experience this?