Here is an example:
I have a deal where my buyers are in escrow on a place. The price (should it close) would make it the cheapest closing of that type in that area. The listing agent does not want other buyers to know how low the sellers were willing to go and I (the buyer’s agent) do not want someone to come in 10k higher (still a bargain) and knock out my buyer if my buyer starts to look shaky.