The most common and most likely answer to this crossword clue is the 8 letter word IDEALISM
I've seen this crossword clue in The Daily Telegraph
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More clues leading to the result IDEALISM
- Contract is put together, restricted by this writer’s impracticality
- The writer’s agreement is welcomed for romantic vision
- Boxer’s entering the same movement with lofty aspirations
- One male without understanding is showing lack of practicality
- Setter’s hosting exotic ladies, hoping for the best
- Longing for perfection, I’m embracing ladies haphazardly
- Following lofty principles in trade, one’s put in unlimited time
- Doctrine meaning I hand out one’s millions
- One arrangement is made initially — it’s unrealistic
- Compiler’s embracing wanton ladies? Wishful thinking…
Buddy explains!

The straight part
We know that "seeking perfection" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case seeking perfection = idealism.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does IDEALISM mean?
IDEALISM noun- The property of a person of having high ideals that are usually unrealizable or at odds with practical life.
- The practice or habit of giving or attributing ideal form or character to things; treatment of things in art or literature according to ideal standards or patterns;—opposed to realism.
- An approach to philosophical enquiry, which asserts that direct and immediate knowledge can only be had of ideas or mental pictures.