It is great to have big expectations for a project or the people working on it. However, one has to remain realistic and keep a grasp on reality. Certain things take a certain amount of time, they can be rushed and pushed, but only to a point, after which things begin to fall apart.
There seem to be three regularly occurring issues when it comes to unmet expectations.
I have seen this mostly with new developers or developers who come from other backgrounds in the industry to residential.
The three expectations that often disappoint and lead to failure in the long-term tend to be; Timing, Money & Sales.
Things take time. Understanding what a reasonable amount of time is for specific processes is very important. Some things can be rushed; others cannot.
Planning is one of those processes that often take much longer than expected. Be prepared and don't let unrealistic expectations lead to problems for your project.
Most everything in property development costs money. Some things cost significantly more than what most people expect. This leads to many problems. Especially when early budgets are allocated. Make sure you understand what the various phases and fit out of a project will cost before you set your heart on certain finishes.
Basements and underground parking have surprised many developers with their escalating costs due to the complexity of subterranean construction or the difficulty with maintaining the integrity of adjacent buildings.
Selling a project can be a blessing or a curse. Developers need to consider the market conditions and competition of their project when they set targets and expectations for their sales.
Don't expect to have a project sell significantly faster than the competition unless it has the value proposition to distinguish itself from the competition.
These are just some of the critical areas where expectations are often not met.
Remember that it is important to qualify your expectations.
Where have you seen expectations, that were miles away from reality that lead to problems in projects?