For the real estate agents out there, what does this mean?

It says they wildly overestimated the market price for the property and they are trying to salvage their listing contract by getting something for the client before a certain date. YOU SHOULD NOT CARE whether or when a seller's broker gets a commission, if ever. It isn't your problem. Only make an offer that is justified by all of the objective cirstances, and if it isn't accepted, it isn't your fault, and you can walk away.