Pub Rants

Category: Agents/Agenting

How An Agent Earns Money From A Conference

STATUS: October is a big royalty month for us so a lot of statements and a lot of money coming in.

What’s playing on the iPod right now? I CONFESS by The English Beat

So my blog entry on Tuesday totally got me thinking. Agents can make money from conferences and here’s a terrific example.

I have a debut middle grade novel coming out this week (October 6) and this novel totally made me money from a conference.

How?

I actually met Janice Hardy at the Surrey International Writers Conference two years ago. She had scheduled a pitch appointment with me. She sat down for a 10 minute session and pitched me the project.

I was immediately intrigued and asked for sample pages. I emailed my associate Sara Megibow and told her to be on the lookout for it. The sample pages came in. I read and liked them so asked for the full.

Then I signed her. We did a revision (because the ending needed work). When ready, we went out on submission to editors.

I accepted a six-figure pre-empt for the Healing Wars trilogy.

I’d say that’s making money! It’s a project I may not have landed if I hadn’t attended the conference so technically, this is money I made from a conference. Grin. Just not in the way that writers mistakenly assume.

I actually can’t remember if Surrey charges an extra fee for the pitch appointments or whether that’s part of the general conference price. Either way, agents don’t receive that money; the conference does.

Happy Release Week for THE SHIFTER Janice!

How Agents Make Money—Hint: It’s Not By Attending Conferences

STATUS: And no one ever talks about the late nights we agent keeps.

What’s playing on the iPod right now? CORNFLAKE GIRL by Tori Amos

I have to say I was highly amused to read a hypothesis from a writer that agents make their money from attending conferences.

If that were true, it would certainly be a poor way to make a living.

For the record, the good majority of conferences pay for travel, hotel lodging, and food. Occasionally, a conference will pay a small honorarium. I’ve personally seen remuneration of $150.00 to $250.00. Let’s say an agent attends 8 conferences at that level. That would be a whopping $2000.00. To put that into perspective, that would just about cover my business class internet for the year and maybe one-quarter of my yearly phone bill. As the honorarium stands now, it might cover our yearly office coffee budget for Starbucks and Common Grounds. Big grin here.

Now I have heard rumors of conferences paying anywhere from $500 to $1000 as an honorarium but I’ve never had the good fortune to participate in any of those conferences (although can someone tell me where I could sign up?).

No, agents don’t attend conferences to earn money. We attend conferences in the hopes of meeting an author and finding a project that will, in turn, earn us money.

It’s actually pretty simple. Agents make money by taking a percentage of what authors earn when an agent sells a project on that author’s behalf.

And there are a variety of revenue streams:
1. The initial sell to the US publisher
2. UK sale
3. Foreign translation sales to foreign publishers
4. Audio
5. Film
6. Other subsidiary rights such as first serial, book club, etc.

And trust me, I’m in my seventh year of agenting and this is certainly not the path to get rich quick. However, it’s a more than comfortable living—for which I feel extraordinarily blessed.

Exploding The “Must Have Connections Myth”—Guest Blogger Megan Crewe

STATUS: For a Monday, it was actually fairly quiet. Only one major issue to solve.

What’s playing on the iPod right now? RASPBERRY BERET by Prince

I thought this a pertinent and timely entry in light of a lot of recent discussions I’ve seen in the comment section of agent blogs lately.

Megan’s debut hits shelves this week—all done with nary a networked connection.

I think every aspiring writer hears this message at least once: You don’t have a hope of getting published unless you’ve got connections. I saw it pop up on message boards and websites as I was preparing GIVE UP THE GHOST for submission to agents, and couldn’t help feeling nervous. After all, I’d never talked to an editor or an agent in my life. I didn’t even live in the same country as most of them! And my close writer friends were currently unagented, so I didn’t have a referral, either.

But I’d also read posts by authors talking about getting picked out of the slush pile, and agents mentioning their excitement at finding a gem in their inboxes, and that gave me hope. So instead of digging into my savings to fly off to every conference I could manage, I simply wrote a query letter, revised it, and started sending it out.

Three and a half years later, I have an agent, a publishing deal, and a book that just hit the shelves. I met Kristin in person for the first time this past May, two and a half years after we started working together.

I know now that there’s nothing to worry about–people receive offers of representation and book deals without any prior connections all the time. I did, many of my writer friends did, and I’ve happily told this to writers who’ve said they’re afraid they won’t be able to find an agent or get published because they don’t know anyone.

Unfortunately, I realized offering my experience isn’t enough. Why should anyone believe me over those claiming that it’s impossible? Maybe my case was just the exception.

Which is why, last month, I set out to collect solid data. 270 fiction authors from a variety of genres filled out a poll asking them about their experiences selling their first published novel. With the results now in, I say with assurance that the idea that you need connections to get published is nothing more than a myth.

62% of the agented authors who responded got the agent who sold their first book through cold querying–no prior meeting, no referral.

72% of the authors sold their first book to an editor they had no connection to (either by cold querying themselves, or submitting via their agent).

You can find my full discussion of the poll results here.

Can connections help you out? Of course! But if you don’t have them, don’t sweat it. I’m a Canadian author who signed with a Denver agent who sold to a New York editor without my having any prior connection to either of them, and that novel can be found right now in stores across both countries. If I can do it (along with more than a hundred other authors who answered the poll), there’s no reason you can’t, too.

Agents Get Rejected Too

STATUS: I’m ready for an exciting new project to come my way.

What’s playing on the iPod right now? POEMS, PRAYERS, AND PROMISES by John Denver

I know that writers don’t necessarily think of this but agents get rejected as well. Last week I offered representation to an author for a novel that was really really good.

Alas, I wasn’t the only agent who thought so. The author had several offers of representation and in the end, the writer didn’t go with me.

So how does an agent feel when this happens?

Does the agent feel disappointed? Of course! If you really like something, it’s hard when you don’t get a chance to go out with it.

Does the agent feel angry? Not really. You can’t win them all. At least I was seriously in the running.

Does the agent feel validated? Absolutely. It’s always nice to know that my taste isn’t off. If other agents are fighting for the same project, then I was right on how I felt about the manuscript.

Does the agent feel regret? Only when we see the “good” or “significant” or “major” moniker on the deal posting on deal lunch. Grin.

And what might be surprising to writers is that most agents wish the author well. Strange as that may sound it’s actually true. This may sound a little woo-woo but I do think that karma plays a big part in what projects come your way and what is meant to be.

Otherwise this biz could drive you nuts…

Editor Rant–Daniel Menaker

STATUS: TGIF and I’m heading out of the office early to do a little reading.

What’s playing on the iPod right now? STORMY BLUES by Billie Holiday

Ah, I couldn’t get the Friday Funnies to work and since I’m heading out, I’ll just have to let Daniel Menaker rant in my place.

If you haven’t checked out his blog posting at the B&N blog, it’s really worth a look.

Warning—this article is not for the faint of heart.

It’s definitely the unvarnished inside perspective though….

Have a great weekend.

Why Agent Honesty Is Overrated

STATUS: Today is about royalty statements, a submission, and a film deal in process.

What’s playing on the iPod right now? SHE DRIVES ME CRAZY by Fine Young Cannibals

Writers on submission always want to know the answer to this question: “Why aren’t agents just honest in their response to my sample pages?”

In other words, if we think the manuscript sucks, why don’t we just say so?

I’ll tell you why.

1. In my experience (and I can’t speak for all agents), any honest reply generates a response from the writer. Unfortunately, we simply can’t get in a dialogue with the thousands and thousands of individual writers who query us in any given day, week, or month. Better to send out the form letter.

2. Sometimes it really is subjective. I’ve passed on manuscripts that I literally hated. Thought the writing was terrible. Yet another agent has taken it on, sold it, and the book did well. Who was right and who was wrong? See? Subjective.

3. I know y’all will disagree but it’s not actually an agent’s job to tell you that your writing needs work. That’s why writer’s conferences can be important and why most writers need a good critique group. The key with critique groups is to find one with writers who you can trust to be honest but helpful with their feedback. I just did a critique workshop at Rocky Mountain Fiction Writers and it was amazing. I let everyone else in the room speak first to the writer being critiqued. More times than not, I simply said, “I agree with so-so” and didn’t have further comments to add. That’s how good the writers were in my group. I’d recommend them to anyone looking for real feedback.

4. It’s impossible to say something doesn’t work without explaining the why of it. And sometimes the why is so detailed (from grammar issues, to misplaced modifiers, to dialogue not working, to plot issues, to no character development) that my explaining of why would just take too much time. Simply easier to say NO via a form letter or via inclusion of one of the more generic response line. Sad but true. And sometimes, it’s really hard to figure out the “why” if the writing really isn’t ready

5. Where a writer is now is not where he/she might be a year from now. I’ve been to a lot of conferences over the years and have heard many a keynote speech from hugely bestselling authors. In their keynotes, they often will relay a story where an editor or an agent told them it was hopeless—to never write again. But here they are, X many years later on the bestseller list. Uh-huh. Where you are now is not where you may be in the future. Why should I discourage you if writing is your passion? If you’re planning to stick with it, then you’ll work on craft until you get it or until you discover that the cost of getting it isn’t worth it to you.

Granted, for some folks, it will be hopeless. They’ll never learn the craft but I certainly can’t know that from one submission read if the writer is one who can learn or one who never will.

Response Speak

STATUS: Heading out to dinner with an agent friend who is in town.

What’s playing on the iPod right now? HOLDING OUT FOR A HERO by Frou Frou

Form response:
Don’t interpret anything. It could mean just about anything under the sun.

Form response with personal comment
Submission was interesting enough for the agent to make a comment. Don’t interpret too much. It’s the nature of the comment that is important here. If it’s “I just didn’t fall in love” that could mean anything from concept isn’t right or writing isn’t quite there yet.

If comment is something along the lines of “see talent here but not right for me”, well that’s encouraging.

Letter with feedback
On to something here. Time is tight. If agents take the time to actually include feedback, they see potential.

Revision letter with request to submit again
Agents are interested. Now they want to see if you can take a potentially flawed work or something that’s not quite ready into something they can get serious about, offer representation, create a revision letter to make the work publishing ready.

Revision letter with offer
You’ve got talent and a great concept. We’re willing to take a risk by getting you on board and then working with you.

An offer
Nothing ever goes out unedited but when an agent just offers, we know that whatever revision might be necessary will only amount to small tweaks.

Florida Attorney General Sues Scammer

STATUS: Today was all about foreign contracts. It’s been stunning. We’ve done 38 deals so far this year in foreign territories. Wow.

What’s playing on the iPod right now? LEGS by ZZ Top

As I’ve been out of town, I haven’t been able to read my Publishers Lunch daily. This morning I was getting caught up on my emails and my industry reading when I came across this news item. I couldn’t help but crow in delight. Let another scammer bite the dust.

And be sure to spread the word and link to this so word gets out in the writing community (and especially to newbies) that they should never, never, never pay a fee to a literary agent.

Florida Attorney General Sues Writer’s Literary Agency and Robert Fletcher
The state’s crimes division “received more than 175 complaints from around the world claiming Fletcher and his associates, who claimed to act as literary agents and publishers, allegedly collected money from victims anxious to see their work published.” The lawsuit seeks injunctive relief as well as full restitution. (full article)

I was appalled to read that he was pulling in an estimated $600,000 a year for fleecing writers. Crime certainly does pay—until you get caught that is.

No Prize For An Unblemished Record

STATUS: Tomorrow I head to Hawaii for the Hawaii Writers Conference. It’s a tough job and somebody has to do it and I’m always happier doing it in Hawaii. Grin.

What’s playing on the iPod right now? FAMILY AFFAIR by Mary J. Blige (now that I’ve learned how to code it down to a small playbox, I’m going to try putting it right under the iPod song–just in case you want to listen while reading.)

I’ve actually been mulling in my head how to write this entry. The reason? I don’t agent the same as all other agents so it’s hard to talk about percentage.

For example, in comparison to a lot of other agents, I don’t sell a lot of books in any given year. I’ve never have—even when I started seven years ago. I’m very selective about the projects I take on.

Earlier in my career when I was still feeling out my tastes and what I really wanted to represent, I had a much higher percentage of books that didn’t sell (especially when I was doing nonfiction titles—which I’m hopeless at and hence why I just rep fiction).

When I became more comfortable in the fiction realm and knew exactly what works for me and what works for the editors, my percentage of projects sold drastically increased. I’m going to assume that what is of most interest to blog readers is the percentage of projects sold for new clients (or debut authors) who haven’t been previously published.

For me, I’m looking back on the last two years and my percentage is almost 100% of what I took on sold. Now this sounds like I’m tooting my horn and other agents aren’t good as I am but that’s not what I’m trying to say (although it could be true, I really don’t know). There may be another way to look at this. Maybe I’m not taking as many risks. I don’t perceive it that way as I only take on the stuff I love but maybe that’s it.

Maybe other agents take on a higher percentage of projects because they are at bigger agencies and have to meet sales quotas. Maybe other agents take on more because they get paid on commission only and bills need to be paid (so the higher percentage they take on, the more likelihood that % number of projects will sell). Maybe other agents take on more simply because they love more stuff then I do (have a broader range in their tastes) and not all of it can sell. Maybe other agents are newer to agenting and still feeling out their tastes and what works best for them to sell.

I haven’t got a definitive answer here.

But what I can say because of yesterday’s entry, my record is not a 100% this year!

Now what’s interesting is that when I took on this author, I knew it wasn’t going to be a slam dunk sale. It’s a work that genre blends so didn’t fit squarely into one place or the other (always harder to sell). Also, this work was something very different for me to rep; it was going outside my “box” so to speak (although I like to think I don’t have a box and I’m open to anything as long as the voice is there). And, to top it off, an earlier version of this work had been shopped previously by another agent. We did a major revision and took it out again. Both the author and I knew what we were up against. If I don’t challenge myself now and again, what’s the point? This work is good; it deserves to sell. This week, we were “this close” to selling it before getting shot down in the agony of defeat.

And if I can’t sell this one, chances are really good I’m going to be selling a future work from this client. The author has a great way of nailing characters who are gray-area bad guys but end up being perversely likable. That’s mastery. I’m patient—as is the author.

So no unblemished record for me this year. C’est la vie!

The Agony of Defeat

STATUS: I’m really ready to read a submission that really excites me.

What’s playing on the iPod right now? SHE TALKS TO ANGELS by The Black Crowes

Do you remember watching the Wide World of Sports and Bogotaj’s failed ski jump clip timed with the words “the agony of defeat”? I think that image is now synonymous with the concept of crash and burn.

Well, this is exactly how an agent feels when a manuscript he/she believes in doesn’t sell. (And I can’t imagine what an author feels like when this happens! Do they imagine that same vision?)

As a general rule, it’s not possible for an agent to sell every single project that is taken on. A lot of times the market isn’t quite right, the timing is off, the submission falls through the appreciation crack, who knows.

But not every project sells.

That’s a fact of life and not why I’m writing this entry. The toughest moment comes when an editor really believes in a project, when the editor fights for the project at editorial board, and then the unbelievable reply comes that despite the editor’s best efforts, he/she won’t be offering for the project. The work, already rejected from numerous houses, is at the end of the submission yet having come so close to almost making it through. So close and yet it might as well be a mile apart.

That, my friends, is the agony of defeat and let me tell you, agents do feel it as keenly as their authors. Well, I take that back. I really don’t believe it’s possible for the agent to feel as deeply as the author does for that lost opportunity. After all, it’s not quite as personal. I always feel incredible sad anyway (and for some reason I run that mental clip through my brain).

I don’t think I’m wrong. Why doesn’t the rest of the world see what I see?

And then I remember that it all comes down to timing and oddly enough, luck.

That can be the most frustrating part of this biz and about as graceful as tumbling through a failed jump.