4️⃣Limited Transparency

More transparency in transactions is needed, particularly for inexperienced buyers and sellers. Opaque pricing is a common issue where the true value of a property or asset is obscured, leading to unfair deals. For example, according to a report by CoreLogic, in 2023, around 15% of real estate transactions involved properties that were overvalued by 10% or more, leading to buyers paying significantly more than the market value.

This lack of transparency often results in buyers overpaying for properties or sellers accepting offers below the actual worth, which can have a lasting impact on their financial outcomes. Hidden fees further exacerbate the problem. In real estate transactions, for instance, buyers and sellers often face unexpected costs such as administrative fees, inspection charges, and processing costs, which can add up to 2% to 5% of the transaction value.