New writer questions

I have just taken on a novelist. She sent me a few questions about our relationship, and I thought I would share our correspondence.


1. To whom will you submit my work?

The 7 major New York publishers, and some of the minor NY publishers who do innovative fiction. At most, 15.

2. What timetable? Does it go out to only one at a
time?

I hope to go out with this on the 17th to about 10 houses simultaneously.

3. Will you keep me updated on what happens?

Sort of. What I mean by that is that I'll let you know when someone has passed, but if their reason is not really relevant to your writing, I won't forward you the rejection letter. I just find it's not helpful to an author's ego to get a lot of rejection. All you need is one publisher to say yes, so who really cares what the nay-sayers say?

4. When will I get the Author/Agent contract, and how?

I work on a handshake.

5. Which rights typically go to the publisher and
for how long? Which rights does the author typically retain?

If they give you a low offer, we will try to keep the foreign rights. I have agents in 14 foreign counties. You always keep the film and merchandising rights. I have film agents I work with in LA. Audio and ebook rights usually go to the publisher with a request for reversion should they be unable to sell them after a reasonable period of time.

6. How flexible do you find those? Depends on the advance.

7. Will you be asking for a two-book deal? Yes.

8. What is the typical advance for work like mine?

If only one publisher is interested, and they see this as mass market or trade, you can expect an advance between $5000 and $12,500. If they see it as a chance to get in on a wonderful once-in-a-decade series, 10 to 20 times that, especially if more than one house sees it that way. But set your expectations on the low end and you won't be disappointed.

9. Do you charge 15%?

Yes. If we retain the foreign rights, the precentage goes to 20% because I share the agency fee with my foreign agents.

New Year's Resolution

I've been reading blogs, and selling blog authors, for at least the last three years. Every year I promise I'll start one and then never get around to it.

But this year I mean it. So here I am.

Why did I start this blog? Certainly I have more than enough to read, and hundreds of emails to answer to every day.

But I've kept a journal since I was 17, and daily writing is something I'm used to (I'm a former newspaper writer and editor too).

Most of the blogs by literary agents are by those starting out in the business, and I'm so glad to read them. But not all agents are the same, and I'm afraid that the public face of agents on the internet is skewered to the new (my associate, Jenny Rappaport, litsoup.blogspot.com, has a blog) and I think it's important for writers (and editors and even other agents) to get a feel for what an agent in mid-career might be looking for and thinking. So here I am.

Here is what you can expect from me:.

I will try to write every work-day, most likely in the morning, and will let you know when I'm heading out of town, and not posting.

I will not write over the weekend.

I will not write about the details of my clients' deals, but I will share their experiences in general.

I will be commenting on things that happen in the publishing industry and/or New York City.

I am not taking queries on this blog. Email them to lperkinsagency@yahoo.com.

You can ask me questions about the business, my experiences, and my opinions.