Hide the real effects (7)
I believe the answer is:
leather
'hide' is the definition.
(an animal hide)
'the real effects' is the wordplay.
'effects' indicates an anagram.
'the'+'real'='thereal'
'thereal' anagrammed gives 'LEATHER'.
(Other definitions for leather that I've seen before include "kid, say" , "kid, perhaps" , "Tanned animal skin" , "Dressed hide" , "Fabric" .)