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Viewing: Blog Posts Tagged with: contract offers, Most Recent at Top [Help]
Results 1 - 4 of 4
1. Poetry Station: READY FOR LIFT-OFF!

I think I’m going to have my students sign-up to use this for one week at a time since there are seven activities. Though it’ll take two weeks to complete all of the activities in a meaningful way since they’re pretty elaborate. Here are the titles of the activities I put inside of [...]

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2. Mistakes Happen

In a recent post, When Agents Agonize, a reader commented, “I don't supposed you ever agonize over rejecting someone and wishing you hadn't? LOL That's what I wish.” And it made me think of a story, one I hope I haven’t already told you.

Earlier this year I was getting slammed with busy, busy authors, submissions from established authors, and all-around good news. In other words, I was exceptionally busy. During the midst of all of this I received an email from a published author who had just received an offer for her second erotic romance contract. While she successfully negotiated her first contract on her own she decided that now was the time to find an agent, so she was getting in touch with me. Of course I moved immediately. I read her proposal and really, really liked it. But I was getting skittish. My concern was how much room I had on my list for another erotic romance author (or another author)? I love erotic romance and I love the authors but, as I tell all of them, the problem with erotic romance is that you have a limited market. Simply because of the subject matter not everyone is going to read it. Therefore I’m reluctant to take on too many authors in this narrow genre. So with a great deal of hesitation I told the author no. In fact, my exact wording was:

“Thanks so much for giving me the weekend. You are really talented and I enjoyed reading this, but in the end I’m going to pass. While I liked your writing a lot I just don’t think I’m as passionate about it as an agent should be about her client’s work. This was a tough decision for me because you are so talented, but I also need to be fair to you.

"Congratulations on your offer. I suspect you’ll have a long career.”

And in a follow-up to her follow-up I said, “It was a tough decision and if you’re ever looking for an agent again please keep me in mind. Things might be different. I do wish you lots of luck.”

Well, this incredibly wise woman read into my hesitation and emailed me back to suggest that if I was really on the fence maybe I should give it a second look. I did. And she was right. I was a fool. I scheduled some time to talk with her about her career goals and what she had in mind, beyond more erotic romance, of course. I humbly offered representation and it’s entirely my honor that she accepted.

Now I don’t recommend that you hound every agent that rejects you. This is obviously a very, very rare instance, but it does showcase that anything is truly possible in this business. I also want to make it clear that changing my mind in no way means I’m any less dedicated or in love with this author’s work than I am with my other clients and their work. It simply means I reacted too rashly.

I think often we hear that authors are really lucky when they have an offer on the table because it makes it easier to find an agent. It also makes it harder for agents to properly evaluate an author’s work the way we would like to. Sometimes sitting on something is better than moving quickly. It gives you time to really process your dedication to it. In this case I was lucky because this probably would have been a decision I would have regretted. I thank the author every time I see her for her persistence, and of course now we both have an interesting story to tell.

Jessica

9 Comments on Mistakes Happen, last added: 12/11/2007
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3. An Offer is Made

In a continuation of trying to let you know what happens to your work in an agency and in a publishing house, I’m going to address what happens when an editor finally does make that offer to your agent. Of course it’s different in every instance, but here is a basic look at how I handle the situation.

When a phone call is made (in rare cases an editor will email the offer) I thank the editor, let her know I’ll be getting back to her after discussing the offer with the author, and hang up. If it’s a first-time deal for an author or project I’m really excited about, my first calls are to Kim and Jacky. I know, I know, I should call the author first, but often I need to get my squealing under control before doing that. Once some semblance of professionalism has returned I’ll call the author to let her know the good news and listen to her squealing. I LOVE doing this. Once the author and I have gotten our excitement down to a dull roar we’ll discuss the steps I would like to take in negotiations.

Remember, I think this business is about teamwork and I like to include the author in all my negotiations as much as possible. I like to think it might give her a better understanding of what’s going on, and she might have some ideas, thoughts, or concerns that she would like to share at this time.

If the book is with multiple houses my goal is to try and get multiple offers. The more the merrier, I always say. In that case my first step will be to contact all the editors who still have the project, let them know we have an offer and what it is (but not who), and give them a deadline for when I need to hear of their interest.

If it’s a situation where it’s a continuation of an already established career or an offer on option material, we’ll discuss whether it’s even an offer we want to consider or if we think it’s too low or insufficient to even counter-offer. Traditionally, though, I’ll begin by counter-offering on the money issues—advances and royalties—and we’ll discuss rights (world, North American, etc.) and due dates.

At this point it’s a little wait-and-see and a little strategic planning. My conversations with the author are usually about what would make her very happy, happy, and not happy at all. I want perspective on exactly what her feelings are so that I know in what direction negotiations should be going.

From the negotiations side I’m talking to editors (in the case of multiple offers) and negotiating deal points.

The only time I’ll counter-offer on the spot (before calling the author) is when it’s an offer we knew was coming (usually an option), something from a series publisher like Harlequin, Dummies, or Complete Idiot’s Guides when I know exactly what they usually offer or what I should expect, and when negotiations are rather limited (like in the cases of the publishers mentioned above).

I’ve had negotiations take a mere few hours and I’ve had them last weeks. How intense they get can depends on a number of things—how many publishers are involved, how successful the author is, how badly the publisher wants her, and the house we’re dealing with. Of course, things like vacation can also come into play, as can forgetful editors.

When the deal is done, though, I make sure I get a finalized deal memo from the editor and then we wait for contracts. At which point my job is to negotiate all over again. Those things that we might need new boilerplate wording for or that are traditionally negotiated with a contracts person rather than the editor, things like indemnification wording, schedules, or reversion clauses.

Keep tuned in and I’ll do a future post on what exactly is negotiated with the editor versus with the legal department.

Jessica

14 Comments on An Offer is Made, last added: 8/27/2007
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4. Handling an Unagented Offer from a Publisher

Recently I got a call from an author asking advice for a friend of hers. The friend had received an offer from a publisher and was unagented, and while she was over the moon, she was also in a panic. What to do? What to do?

I covered this topic once before here, but it bears repeating and elaborating on.

While most of us preach against submitting directly to a publisher, there are still a few publishers who accept unagented material and will consider it. And yes, they will, on occasion, make an offer. In fact, I have four clients who came to me with a publisher’s offer in hand. In two instances the author was previously published with this publisher and decided that this time she wanted to use the offer as leverage to find an agent. In another instance the author had never been published before and wanted an agent to negotiate the finer points of the deal. In that case we sent the material around to a number of different publishers, and while we got some interest, in the end we signed with the publisher who originally offered. In another case the author had never been published before but had submitted to a couple of publishers based on contest requests. In that case we used the offer as leverage to sell the book to another publisher for an even better deal.

So what are your choices if you’re unagented and receive an offer directly from the publisher? As I see it you have two: (1) sign with the publisher and move on to working with the editor on your book, or (2) use the offer as leverage to contact all of your favorite agents and find the one you think is best suited to your work and work style.

Of course my suggestion would always be choice #2, but there’s absolutely nothing wrong with choice #1 either.

If, however, you decide to try to find an agent, here’s my advice. . . .

1. Thank the editor and let her know that you’re planning to find an agent to negotiate on your behalf. Let her know that you’ll get back to her in 7 to 10 days (and then of course get back to her in that time frame). Do NOT tell the editor you accept her offer or anything even remotely similar. This will ruin any possibility of the agent negotiating on your behalf.

2. Contact every agent who has your work (at least those you are most interested in working with) and give them the details of your deal. You don’t need to reveal money matters at this point, but let them know that you have an offer, with what house (you can leave out the editor’s name) and for how many books. And give them a deadline. Let them know you’d like to hear back in 3 to 5 days.

3. Contact new agents who you’ve always liked and wanted to submit to, but who don’t have your work. Let them know why you’re contacting them and provide all the same information as in point #2.

4. And then wait. Most agents will get back to you in the time asked. For those who don’t, they should at least ask for more time or let you know when they can get back to you. For anyone who seems uncommunicative or lacks the ability to get back to you in time, cross them off your list. Either they aren’t interested enough for you to want to work with them or their communication style isn’t what you want in an agent (unless of course you’re fine with being ignored).

5. Once the agents get in touch with you, read my blog post on Questions to Ask Before Signing with an Agent and don’t forget to read the comments. This should help give you an idea of what the agents are about and who you would be most comfortable working with. And then go for it. Sign with the agent.

6. Now that you’ve found your perfect business partner let the editor know that So-and-So agent will be getting in touch to handle the deal.

7. And Celebrate!

And lastly, don’t worry that editors or agents will be put off by your demands. You’re demanding nothing. You are acting as a smart and wise businessperson.

Jessica

10 Comments on Handling an Unagented Offer from a Publisher, last added: 8/17/2007
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