Are Real Estate commisions about to crater?

[SB_SB]

If the bank/appraisal says it's only worth $200k and they can only loan off that number, you as buyer have to come up with the $6k difference due to the appraisal gap. So you either bring more cash to close or get a bigger loan (which bigger loan may not be approved). You wouldn't be putting down larger percentage toward your loan, that would remain 20%, just the additional 3% would be going to the broker on the closing settlement statement.

My point was, as a buyer you'll need 23% of the sale amount when the old way the buyer only needed 20% (plus any closing costs). With the high price of homes these days, it's going to make it harder for first time home buyers to purchase a home. I don't see home prices dropping because of this change.