Offers keep getting more aggressive, we keep losing... both offers and hope.

Today's lost offer (#7):

Listed for $425k. Suspected it would appraise about $440k based on comps. Offered $441k with escalation clause to $480k (escalation clauses are common in our market). Essentially $55k over asking. Mortgage pre-approval from local lender locked in. Offered full appraisal gap coverage from list to max with proof of funds. $12k EMD. Waived inspection.

Lost... 3 offers were over $500k, which is our maximum ceiling.

I feel like a failure. I have a great, responsive agent who knows the local market for the last 30 years. He just keeps telling us to have faith, but I'm losing it. He's advised us against personal letters as they get thrown out more often than not, so we haven't been doing those. In all honesty I don't know what more we can do except offer money we don't have/can't afford. We're stuck in a weekly routine of see a few homes on Friday, make an offer on Saturday, find out Monday we've lost. Rinse and repeat.

Wife and I need to move by July. We've been at it for 2 months. If we don't lock something down in the next 2, we're looking at having to rent for egregious prices.

Someone please tell me this will get better. I don't know how much more of it I can take.