Pub Rants

Posts from June, 2010

One Agent Enthusiastic, The Other Not So Much

by Kristin Nelson

STATUS: I have several interesting negotiations going on at the moment. Makes the day rather chaotic when I’m constantly having to switch gears from one deal to the other as editors call.

What’s playing on the XM or iPod right now? CRAZY by Shawn Colvin

As we are often reminded daily when we see a sale in deal lunch for a title we’ve passed on (LOL), agents can have different opinions on the same work. A couple of weeks ago, we got a full manuscript submission that both Sara and I had decided to read.

Sara started before I did and sent me an excited email about how much she was loving it, etc. I started it, read a good 75 pages, and I just wasn’t wild about it (regardless of how well-written the work was).

It seriously just came down to our personal tastes.

Sara had no hesitation so she offered representation and took on a new client. If left up to me, I probably would have passed.

So we mean it when we say “this biz is really subjective.” It also means it’s a good thing that there are two of us taking on clients and that our tastes don’t always match up. It means more opportunity for everyone.

Sure Enough—Killed Off In First 5 Pages

by Kristin Nelson

STATUS: My To Do list was ridiculous and I didn’t even finish one item on it. In good news, some other fun stuff happened.

What’s playing on the XM or iPod right now? ONE AND ONLY by Teitur

I actually typed up yesterday’s blog entry while at the office. I headed home and then met with a friend for dinner. When back at home, I picked up my kindle so I could take 30 minutes to review some sample page submissions. (On a sidenote, this process is pretty typical for me. I only allocate about 30 minutes to review submissions. Now if something grabs me, then I’ll go beyond the allocated time frame. That’s how I know something is good if I’m “staying up” to finish reading the sample. I’ll ask for the full the next day).

But back to my story. I pick up my kindle and pop open the first submission—a young adult work. Sure enough, the main protagonist dies within the first five pages.

Considering I just literally blogged about that hours before, the irony was not lost on me. Y’all will be happy to know that I didn’t stop reading the submission. It was actually a rather cool premise so I did read the sample pages in its entirety (so about 30 pages). Ultimately I decided to pass on asking for a full. I didn’t connect to that main character and considering she is already dead, I felt like that was a rather crucial ingredient to make this novel work for me despite it’s rather unique setting and concept.

I figured blog readers wouldn’t mind hearing about this. As for queries that have yesterday’s outlined trends, we don’t dismiss them out of hand by any means. But it certainly has to go the extra distance in its uniqueness so that we’ll ask for sample pages.

So keep that in mind.

The Latest Trends in Query Letters and Sample Pages

by Kristin Nelson

STATUS: Importance of proofreading. I sent out an email with a sentence that featured the same word three times. Sheesh. It’s a Monday…

What’s playing on the XM or iPod right now? ONE FOR MY BABY by Jack Jones

I have to say it’s getting a little gruesome in our query letters and sample pages. We’ve received an inordinate amount of queries where the poor main character has to be killed off before the novel can begin.

(1) Main characters dying and then being sent back to earth to redeem themselves or finish one last task.

(2) Teens dying in car accidents and then narrating their story from the other side.

(3) Main characters that become a ghost and narrate the story from that perspective.

I’m sure writers are simply trying to find a cool hook or an interesting framework in which to tell their stories but in the last month, we’ve seen a hundred of these.

Some other trends?

(1) Greek mythology characters in a modern setting (Thank you Mr. Riordan.)

(2) In women’s fic: 30-40 something women facing a choice between (1) a happy but mundane family life and (2) a new romance/exotic adventure; We assume most of them choose their families in the end. Also, we’ve been seeing a lot of stories about women who have discovered their husbands cheating, getting divorced, and then moving to a small town where they start their own business—like a B&B. They always move to the small town as the key feature.

(3) Adult novels with bipolar characters (not sure if this is relevant since we haven’t requested any of them, but it’s amazing how many of these queries we’ve seen).

(4) Psychics (both YA and adult) who solve a mystery or save someone or other people’s lives

(5) vampires (still) – in romance and YA (fewer werewolves, but amazingly still those pesky vampires)

(6) people (adult and YA) who “see” things in dreams that are real and lead them on an adventure (all sorts of genres, but same concept).

Friday Funnies!

by Kristin Nelson

STATUS: I’m off to speak at the National Association of Hispanic Journalists this afternoon. A first for me!

What’s playing on the XM or iPod right now? GIRLS ON FILM by Duran Duran

How authors handle reviews…. From my author Kristina Riggle–who is particularly good at finding me great funnies to share.

Enjoy!

Talk About the Money

by Kristin Nelson

STATUS: If I read my latest Publishers Weekly magazine at the same time as getting a pedicure, does that qualify as working? Hey, it’s summer time.

What’s playing on the XM or iPod right now? I AND LOVE AND YOU by Avett Brothers

Last weekend I spoke at my local Lighthouse Writers Litfest. They wrapped up two weeks of celebrating literature and authors with an agent panel at the Tattered Cover in Lodo (which stands for Lower Downtown)—and to be honest, agents doesn’t sound overly celebratory to me but hey, they thought that was the way to do it. Didn’t you know that most of us are full of hot air?

One of the questions asked at the panel was how much of an advance can a writer expect for a debut novel.

Admit it. All of you just perked up your ears. Always, always, writers want to know about the dollars involved. The problem is that this question is really hard to answer. Depending on the novel, it literally could go for any amount of money.

When pressed, which happened of course, the audience wanted to know what was “typical.”

Once again, no such thing but if you hold a gun to my head, I’ll say this:

1. Most debut novels will have advances of under 25k per book. I’d say that’s typical.

2. What a debut novel will get for an advance will depend on genre.
a. Romance novels—5-15k per book
b. YA or MG—10-30k
c. Mysteries & thrillers—Uh, no idea. Don’t rep them. Janet Reid, my friend, can you chime in here? I think you are the Queen of repping this genre.
d. Literary fiction—10-30k
e. Women’s fic—10-30k (are you noticing a pattern here?)
f. SF&F—5-25k

Okay, fine. I told you the money—as long as you realize this list is meaningless, we’re fine.

Have I sold a debut romance author for six figures? Yes. Debut literary author for six figures? Yes. SF&F debut author for 6? Not yet (but I’ve gotten really close…).

Etc. It all depends on how many editors want your particularly debut novel. For my part, I often feel the most satisfaction for selling a debut that took forever to place (and the author was on the verge of giving up hope) and the novel I sold for peanuts that then exploded and just sold and sold.

Now that’s the kind of money I like to talk about.

One Possible Peril Of A Multi-book Deal

by Kristin Nelson

STATUS: Heading out into a glorious day.

What’s playing on the XM or iPod right now? THE OTHERSIDE by Breaks Co-op

I’m pretty sure I’ve blogged about this sometime before but it could have been years since my last entry on it for all I know. One of the perils of a multi-book contract is a little detail called joint accounting or cross-collateralizing the titles.

For the record, our agency won’t do joint accounting. All the publishers know that and if they want to insist on it, then we can only talk about selling one book and any multi-book contract is nixed. I see absolutely zero benefit in joint accounting for the author. However, some well-respected publishers do like to push for it—especially for debut authors. Tor being one example. Some houses never practice joint accounting. Harlequin being one example

First off, what is it? Basically, it means that the multiple titles sold are linked in the accounting. Let’s say an author does a 2-book deal. It’s not a series so each title stands on its own. Let’s say the advance was $30,000 (15k per title). In joint accounting, the author would not see any monies beyond the advance until both titles earned out the 15k because of the linked accounting (even if book one has already earned out).

With no joint accounting, each title has its own separate accounting so once the 15k earns out for book one, the author doesn’t have to wait for the other title to earn out to earn royalties on that first title. Or vice versa. Each title is separately accounted.

That’s it in a nutshell. If you are only selling one book, this is never an issue. It’s only a point of discussion if an editor is offering for several books.

As a matter of practice, when an editor calls to offer for 2 books (or 3 or whatever), I always begin the convo with “our agency will not do joint accounting. Given that, are we talking about one book or more than one?” This establishes it before anything else so it’s not even a factor as the negotiation unfolds.

Once again, I can only speak for myself. Other agents might differ on their opinion of this. You might be wondering why any author would agree to it.

Well, if you are getting 7-figure advance for two books and the publisher insists on joint? Do you care? Interesting question, no?

The One-Book Deal

by Kristin Nelson

STATUS: A nice and productive day. I think I want summer hours though. Leave by 1. Play in the sunshine. I know Chutney is all for it.

What’s playing on the XM or iPod right now? DO YOU SLEEP by Lisa Loeb

Today let’s tackle the single book contract. What are the advantages and disadvantages to doing just a one-book deal? Considering what we discussed yesterday, it seems ludicrous to sell just one book!

Well, not really. Most one-book deals are for literary fiction and occasionally for what we would call the “big” commercial literary fiction. Commercial literary fiction is really just literary fiction that has a commercial hook or slant. For example, WATER FOR ELEPHANTS is a good example of commercial literary. Or TIME TRAVELER’S WIFE. Or HOTEL ON THE CORNER OF BITTER AND SWEET.

Does this make sense?

And there are lots of reasons to do a one-book deal.

1. Literary fiction takes longer to write. Sometimes it’s not feasible to write a second book on a prescribed deadline so authors will contract one book at a time. Wally Lamb (SHE COMES UNDONE) is kind of known for never selling a book until it’s written and then he sells that one book only.

2. A one-book contract can alleviate the pressure on the author. The sophomore effort can be a tricky thing. I know from experience that every author hits a stumbling block with that second novel and it really doesn’t matter the genre you write in.

3. Literary fiction—especially those that lean commercial—often get undersold initially and then break out big later. If there is a sense that that could happen, why lock the author in for a certain amount of money?

4. The author might not have a second novel to propose and he/she just doesn’t want to throw ideas at the wall and see what sticks. And the author might take 10 years to write next literary novel. It happens.

5. If the author’s editor leaves and there is just a one-book contract, it can make it cleaner for the author to follow his/her editor to a new house. One’s editor tends to be really important in literary fiction. There is a certain trust that can be very beneficial to the literary writer.

Now having mentioned these things, you can kind of see the flipside to the argument.

1. A two-book contract might be preferred if there is a lot of hype and a book sells for a lot of money and then doesn’t perform. How nice would it be to have a commitment to two books already lined up if that’s the case? A chance of redemption or getting those numbers back up.

2. A Publisher may delay acquisition of a future book until they have sales figures for the first book. Since books easily take 18 months to publish, it’s a long time to wait to get a new contract—especially if the author is trying to earn a living here.

One Book or Two? Maybe Three?

by Kristin Nelson

(Just a note, this post is from our archives. Some references and links may be from past years.)

STATUS: I was “this close” to getting to everything on my TO DO list today.

What’s playing on the XM or iPod right now? MY WAY by Frank Sinatra and Willie Nelson

Last year, a fellow agent friend and I gave a workshop on doing a single-book contract versus a multi-book contract. I was a little surprised at how many writers showed up for it. Hey, maybe these would make a few good blog entries.

First Q: When is doing a single-book contract ideal and when is a multi-book contract best?

Answering this question takes into consideration a lot of different factors. Let’s start with the obvious. If you write genre fiction, it’s almost always to an author’s advantage to do a multi-book contract.

For example, if you write fantasy and the first book being sold is the first in an envisioned trilogy, well, it would be better to have the publisher commit to three books. That way the entire series has a shot of being published. It often takes several books for a series to pick up momentum. What’s important is the publisher commitment—even if in the end a series does well and it was “undersold” initially in terms of the advance.

More common case is that a series has to build over time with the subsequent books and then the books start to earn out. Besides, who wants to sell book 1 in a trilogy only to be left in a lurch if the publisher doesn’t pick up the other books? It’s not easy (read “nearly impossible) to sell books 2 & 3 to another house. If sales are sluggish, it’s really unlikely another house will pick it up.

For another genre such as romance, careers build best if an author can release books within 6 to 8 months from each other. That means really tight schedules/deadlines for the author to make that work so doing multi-book contracts make sense. It’s also best to do multi if the stories are “linked” (as in they stand alone but have characters that might have been introduced in first novel).

Is there an advantage or disadvantage for doing 2 books vs. 3 or 4? Sure. Lots of agents differ on their opinion of this so I can only speak for myself. In general for me, the number of books sold at one time depends on the author (how fast he/she can write), on the project (how many books envisioned) and whether I think the author was undervalued. What I mean by that is if the offer was initially too low for a 3 or 4 book deal or if I thought the monies should have been higher in the auction and I don’t want to lock the author in for too many books at the lower rate. Obviously, reverse is true. If the monies are good, then why not lock in for more books as the commitment is strong from the publisher.

As you can see, lots of factors at play. How does an agent know? We’ve been doing this long enough that we pretty much use our gut sense of what feels right as the offer unfolds. I’ve yet to be wrong.

I’ll talk about single-book contract tomorrow.

Photo by Black ice from Pexels

Friday Funnies

by Kristin Nelson

STATUS: Finishing up royalty statement reviews today, concluding a negotiation for a deal, and doing some client reading. Most editors have half-day Fridays during the summer so by 1 pm Eastern time, things quiet down.

What’s playing on the XM or iPod right now? WAKA WAKA (ESTOS ES AFRICA) by Shakira f. and Freshly Ground

Today’s entry comes with a HUGE beverage alert. I’m serious here. Put down the coffee. These two are courtesy of my 15-year old niece. Brilliant!

Not The Flashy Stuff

by Kristin Nelson

STATUS: I think we managed to conquer my home tech issues.

What’s playing on the iPod right now? 6 O’CLOCK NEWS by Kathleen Edwards

So much of what an agent does on a daily basis is rather subtle and not written into the job description per se. For example, today I changed an editor’s mind. She was only going to offer for one book and I talked her into going back to her boss and getting permission to offer for two.

Now this didn’t happen just because I asked her to. This happened for a couple of reasons: 1) I gave her good ammunition to use in persuading her boss to reconsider and give the okay and 2) because we’ve had a business relationship for years and the editor trusts that I’m not just blowing hot air when I say that I will make XYZ happen.

In all the discussions about agents and what we do, I’ve never heard this particular aspect spotlighted–that part of our value is in our established relationships with editors—and not just in terms of getting submissions read or larger advances offered for projects etc. because that I do hear a lot of times.

Today was not the flashy stuff but equally as important. And every agent I know does this kind of stuff regularly.