Comments on: What Do You Expect?

By: Updates That Wander

Updates That Wander — Wed, 07 Sep 2011 05:30:28 +0000

[...] into the literary world, ever wondered what to expect from a literary agent? These two posts (via KT Literary and the Editorial Ass) will tell [...]

By: Updates That Wander | Ruthanne Reid, Author {Blog}

Updates That Wander | Ruthanne Reid, Author {Blog} — Fri, 04 Dec 2009 23:38:57 +0000

[...] into the literary world, ever wondered what to expect from a literary agent? These two posts (via KT Literary and the Editoria Ass) will tell [...]

By: Karen

Karen — Thu, 03 Dec 2009 19:09:02 +0000

Thanks Kate, that's just what I wanted to know. And um, I meant royalties and not residuals-lol.

By: Kate

Kate — Thu, 03 Dec 2009 18:32:30 +0000

Sorry — I should clarify, an agent's commission is *usually* 15%, but on a film deal or translation rights, it may be different. But again, that difference would be spelled out in your agreement with the agent, and thus known to you upfront.

By: Kate

Kate — Thu, 03 Dec 2009 18:31:20 +0000

Hey Karen -

Agents get 15% of all income generated by their sale of a book, so that, yes, if you get a $12,000 advance paid in thirds, an agent takes her commission on each payment — so $600 three times. Which is the same as an $1,800 payment if the advance was paid all at once. Each time a check (or wire transfer) comes in for one of my authors, I deduct my commission and pay the rest to my author, whether it is an advance or royalties down the road.

By: Karen

Karen — Thu, 03 Dec 2009 17:43:31 +0000

I guess, when the day comes that I have an agent (I'm keeping hope alive) I'd want him/her to be honest with me. If I write something that sucks, or not even that it sucks so much, but that it isn't up to what the agent thinks I'm capable of, I'd want the agent to tell me. This probably isn't really a problem because it's not in the agent's best interest to simply tell an author what they want to hear, but I've had a few too many readers who phone it in with their comments that I worry about this.

I also have a question. If agents get 15% of sales, is that for the advance and then on the residuals too? And then, say the advance is broken up into 3 installments, will the agent take 15% of each installment or just of the total? I know this isn't really the type of questions you set up for us to ask, but I think about the craziest things-lol.

By: Katie Ganshert

Katie Ganshert — Thu, 03 Dec 2009 17:23:45 +0000

Communication to me is by far the most important thing. I love your policy.

By: Paul

Paul — Thu, 03 Dec 2009 14:59:57 +0000

I feel fortunate to have the agent I have. She's awesome. Easy to talk to. Fun and competent. It feels like a good match for me. I don't take this for granted.

By: Carrie Harris

Carrie Harris — Thu, 03 Dec 2009 14:56:52 +0000

Me = so lucky because you = my agent.

Can you tell I have an advanced degree in statistics?

By: Kristi

Kristi — Thu, 03 Dec 2009 14:07:49 +0000

I read Moonrat's post this morning and loved it.

As far as what's most important to me – it's probably the psychologist in me but I'm huge on communication. Just ask my husband – lucky for me, he's a psychologist too Aside from that, what's most important to me is someone who is competent at their job (which encompasses many of Moonrat's points such as the fiscal disclosure) and who is a good human being. I realize not everyone would care about that last part if their agent was great at getting deals but I believe in the power of positive energy and I want it to be a great business marriage, meaning I only get married once.

On a totally unrelated note, I just signed up for the first pages readings with Kate and Kristin Nelson and I'm beyond excited.