THE CAREER NOVELIST
is the right agent for me?" Much better the right agent at 15 percent
than the wrong one at 10.
Having said that, I should point out to new writers and old pros
alike those commission levels that are generally considered exces-
sive. They are (a) 15 percent plus all expenses; (b) 25 percent on
overseas sales; and (c) anything more than 10 percent on overseas
sales that are made not by the agent but by the publisher.
As for reading fees, do not pay them. Reputable agents do not
charge them, not even nominal fees to cover handling. In fact, the
Canon of Ethics of the AAR allowed reading fees only with extensive
advance disclosure to the author, and then only until the end of
- Now, reading fees are banned altogether.
Certain nonmember agents will continue to charge such fees, I
am sure. Should you pay them? 1 do not recommend it for mere con-
sideration, though critiques are sometimes offered for your money.
Are these worth it? Ask to see a sample critique ahead of time. Also
find out who will actually read your manuscript and how long it will
take to get the report.
Even then, there are choices other than literary agents if you
want to pay for manuscript analysis. There are plenty of free-lance
editors and "book doctors" from whom to choose. Their services
may prove more expensive than agents' critiques, but in the long
run those services may also prove more beneficial. For names, look
in the industry reference book LMP (Literary Market Place) in the sec-
tion called Editorial Services. Or contact the Editorial Freelancers
Association. Be sure you are paying for quality advice.
A last word on commissions: unfortunately, I must report that I
recently have heard rumors of agents who have escalated to a 20
percent commission on ordinary domestic sales. I have no names,
but that is the talk. A sign of the times, perhaps? Maybe the "buy-
ers' market" of the nineties is working in favor not only of publish-
ers, but of agents now, too. If so, let the writer beware....
Market-timers vs. Fundamentalists. In the stock market, a "market-
timer" is a trader who moves with the trends. Market-timers pay lit-
tle attention to the merits of individual stocks, and lots of attention
to various indicators that forecast the market's overall direction.
"Fundamentalists," in contrast, ignore the ups and downs of the