Questionable Question No. 9
I’ve already been offered a book deal directly by a publisher. Why should I involve a literary agent now and pay 15% of the deal to them?
Literary agents are often asked these QUESTIONABLE QUESTIONS by writers looking to understand how book publishing works. They’re reasonable questions and yet they reveal a misunderstanding about the industry. I hope this series of answers is useful.
9. I’ve already been offered a book deal directly by a publisher. Why should I involve a literary agent now and pay 15% of the deal to them?
What has this publisher sent you?
Have you got a draft contract from them?
You have.
What does it look like?
What are you thinking about their terms?
Often the author is thinking a whole lot of things at this point. Stuff like:
Few new writers can expect a big advance payment for their book. But they did offer this quickly?
It’s natural to wonder about the money they have offered – even without a figure in mind, theirs might seem a bit low.
Apparently, the business model is to put aside money for book promotion that would have otherwise gone into the author’s advance. You can see the logic. Author and publisher both gain from extra book sales. If their marketing investment works, there will be healthy royalty payments after publication. The promotion plans aren’t actually specified in the contract though. You can see why – it would be weirdly specific to list everything they’ll do.
Apparently, the royalty rates are industry-standard. They’re a reputable publisher who have published some legendary authors. There’s no reason to doubt their basic terms.
Plus, the international potential is interesting. They might sell rights around the world. It could appeal to readers in Europe or Asia, even America. Similar titles have been translated into a dozen languages. The contract has the author keeping the lion’s share of any sale in another territory. So that’s all ok.
Their option on future books is not an issue. Hopefully they will want more books later.
Anyway, the most important thing is the editor’s passion. She gets it and she loves it. She articulates its essence brilliantly. That connection matters more than anything. She does say that their faith needs to be realistic in the face of a difficult marketplace. Everyone knows there are always too many books fighting for readers.
All things considered, it seems like a sound deal with a good publisher. There are a few things to question but no reason not to agree them, crack on and sign. You don’t want to alienate the publisher, no reason to destroy the good vibes around the book.
Plus, there’s the saving of the fifteen per cent an agent would cost.
****
Ok can I suggest something now?
CALL A LITERARY AGENT. Find a good one. They have a magic trick to show you. You’re going to like it.
If you don’t know one, google and ask around. Then email their submissions inbox with message headed THIS BOOK SUBMITTED IS UNDER OFFER FROM A GOOD PUBLISHER. Keep a stick handy in case there’s a crush.
Pick an agent.
Now sit back and enjoy watching the trick. It’s not Siegfried and Roy illusion level but still looks good the first time you see it.
As Michael Caine explains in The Prestige, a magic trick comes in three parts.
First there’s The Pledge: the magician shows you something relatively ordinary, like a dove… or a publishing contract. Then throws a cape over it or calls the publisher. In an instant the contract disappears. The Pledge feels weird and unsettling.
The second stage is The Turn. After some noise and smoke, phone calls and emails, your agent magician makes the contract reappear. Except now it’s different: the money, pay-out schedule, royalty rates, discount terms, rights licenced and the option clause have all been polished up to sparkle.
But you wouldn't clap yet. A better deal isn’t enough.
Every magic trick has a third act, the hardest part, The Prestige. Money and legal freedoms are all very well. But what about the publisher’s initial enthusiasm for your book, their yearning to publish it?
Ta Da.
What’s this? Your agent bows (and almost smirks)
The publisher is standing there, Mont Blanc pen in hand, smiling warmly. They’re now keener than ever to get the contract concluded. Their early excitement about book is intact. There’s an extra edge of energy too – a Fear Of Missing Out. There was no FOMO before.
What’s gives?
They want to close the deal before you consider approaching a rival publisher.
For the record, unless they are an obviously wrong fit, the agency ought to attempt negotiating an agreement with the offering publisher before taking the book to others. A good offer from a good publisher is not nothing. If they were enthusiastic enough to take up your book without it being pitched by an agent, that’s a good sign. Sometimes the agent knows that there is probably only this publisher for your book.
I’ll add here that I don’t pull “the trick” when it’s a small independent publisher who are offering and the book represents a risk. If a small press is seeking to publish an original literary work, for instance, I see my role as both supporting my author and encouraging the publisher’s courage.
But it is enjoyable to demonstrate instant value to an author. It’s fun to justify the commission cost in a few calls.
It’s the opposite of magic of course.
A good agent can figure out the worth of your book to the publisher. They know the acceptable range for each clause in a publishing contract. They understand what rights to cede and which to keep. They have learned the consequences in the pay out of those fiendishly complex royalty clauses. So long as you enjoy pressing hard in negotiations, it’s easy, much more straightforward than what’s next.
What’s next for the agent is monitoring the publisher in the months up to and beyond publication date, to check they are delivering on the promises made to you at contract time. Your agent has limited control here. The decisions about how much time they will spend in publicity and marketing for your book are a small part of their expenditure and general strategy. Sometime well ahead of publication date, the publisher is allocating resources to all the titles they are publishing. Securing extra people working on your book means less for other books and a shift in the management plan. Nobody likes their plans being changed by an outsider. And publishers are no exception.
A big part of the agent’s job is spotting what could go wrong at publication time. What does the publisher secretly wish but is not saying?
Do they wish the author had a bigger profile? That they were more easily promotable by dint of having a backstory that aligns with media zeitgeist? That another similar title hadn’t been published recently? That your last book had sold better?
Only rarely does the publisher share these thoughts openly. There are some admirable editors with the strength to maintain an authentic connection. Individuals who can remain loyal to their publishing team but who talk straight. They give author and agent a clear picture of their plans and the limitations placed on them.
More usually the measure of their faith in your book can only be assessed by scrutinising what they don’t say and what they are not doing.
I speak fluent publisher. I’ve worked on many books and been a part of huge publishing successes – books that found a readership to love them. I usually know what’s really happening within the publishing company to support my author’s book.
Yet I can still get fooled by euphemisms and half-truths. I can still get caught up in my excitement about my author’s book and believe the publisher feels the same way. But not often and not easily. Magical thinking is delightful, but not what you need from your agent. This is why you need an agent - because Bookland has hidden complexities, even for a professional.
[ENDS]
Read disclaimer and hint for writers here.
Possibly the single biggest misconception I've heard -- routinely, over and over, a thousand times -- from non-writers and aspiring writers: "Why should I give away 15%?" You're not "giving it away" … you're investing it, and it's an investment that will repay you many times over. A good agent gets a better book deal; a great agent does that and more: gets you a better career.