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Agent FAQ-

What are appropriate fees and costs?

Answering Common Questions About Agents' Fees.

Agents & Appropriate Fees

 
 

To clear the air regarding money: agents work much like attorneys. It is that simple. Instead of legal representation, they are literary representation. They approach editors much like the way an attorney would approach a judge. With careful persuasion, they encourage the publisher to accept your work. It is a mutual interest, for much like many lawyers, they "don’t get paid until you do."

Likewise, the "literary attorney" will see you through contract terms and conditions from the publisher. They assist you through the time of acceptance into the publishing house.

The standard fee for an agent is 15% of your advance. For an advance of $5,000.00, agent fees will run around: $750.00. It is indeed in their best interest to get you the greatest advance possible.

Depending upon the agent, at the time of publisher acceptance ( not before), you may also be charged for office expenses and postage. This is common practice and you shouldn't be alarmed. If you have questions or the extra amount seems unreasonable, contact the agency. You may be able to negotiate the terms if you are tactful and reasonable.

It is best to clear this matter up right after your work has been accepted by an agency. Don't wait until a publisher has expressed an interest or has accepted your work. If you are under contract with an agency, you are under contract.

When you’ve signed a contract with your agent and they’ve represented and found a publisher for your work, they will receive your advance first. The publisher will send him or her your check. Then they will deduct for their services and issue another check for the new amount to you. This process takes around two to three weeks, but no longer.

 "It is indeed in their best interest to get you the greatest advance possible."

"Recommended" Services:

This is where the quest for representation can cheat writers out of much time and money.

The "agencies," who participate in the practice of recommending book doctors or editors aren’t representing authors at all. They are collecting their pay from hopeful writers. Usually, they will receive "kickback pay," from the editor or book doctor for referring customers.

"They are collecting their pay from hopeful writers."

 

These people may say, "It just needs a little work. I recommend Mr.________. He’s a notable editor and will bring your work up to industry standards." Another sign is, "I like the story, but it needs some work. For only $300.00 our editors will polish it for you."

If a legitimate agent thinks your work needs this amount of attention, they will reject it. It will not be a commercial for an editing company. They will return your query or manuscript with a rejection letter. If they particularly enjoy your work, they will include notes or a personalized letter giving you tips and pointers. If you are extremely lucky, they will say something like, "Re-write and revise. Then re-submit."

Unless they are starting out, legitimate agents already have a full client list. They do not have time to search for editors or book doctors for authors who aren’t even clients.

Up-Front Money:

This taboo in the publishing industry means you are sending an agent money prior to publisher acceptance. The entire purpose of retaining an agent is to have someone else invest in your work.

You don’t pay them because, "if you are too afraid to invest a little in your work, you aren’t confident about it." Agents invest money in their clients prior to publisher acceptance, that one of their most important purposes. They copy, distribute, and contact publishing houses on a writer’s behalf. That is their job. They are reimbursed when their client is chosen and an advance is issued.

Up-front charges include, but aren’t limited to:

Office/Filing Fees

Reading Fees

Postage Charges/Fees

Telephone/Fax Charges

Submission Fees

Critiquing Fees

If your agent doesn’t even have the resources to represent you, do you really want them to represent you? A successful agent/agency will not only have a copy and fax machine, they will have an entire office of equipment and supplies. If they need money for these simple services prior to publication, what does that say about their previous successes?