From the course: Sell Your Novel to a Major Publisher

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Agency contracts

Agency contracts

From the course: Sell Your Novel to a Major Publisher

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Agency contracts

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- [Narrator] Now let's talk about agency contracts. Some agencies will require that you sign one, and others prefer to work on a handshake or a virtual handshake these days. It's not a red flag or cause for concern if an agent doesn't use a written contract. Some agencies just don't use them. An agency contract usually lays out all the terms of your representation. Standard items on an agency contract include an agency's commission, how the agency handles out of pocket expenses. Some agents will change the clients for these expenses. Others will not. Agency services, or in other words, what they are agreeing to do for you, and the conditions for termination should you want to leave and seek representation elsewhere. Let's go through each of these quickly. First, the agency commission. The standard commission for an agent is 15%. They really shouldn't charge anymore than that, and you probably won't be able to negotiate any less, as this is the industry standard. Agency commissions are…

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