What would be the consequences for the OLS estimator heteroscedasticity is present in a regression model but ignored?

What would be the consequences for the OLS estimator heteroscedasticity is present in a regression model but ignored?

Explanation
  • If heteroscedasticity is present in a regression model but ignored, the Ordinary Least Squares (OLS) estimator will still be unbiased, but it will not be efficient.
  • This means that the estimator will not have the smallest possible variance, and the estimates may not be precise.