Should requested material be sent as a word doc if not specified?
We will charge a 15% commission for our services in helping them project manage everything from choosing a cover artist to working with a copyeditor to uploading their work. We will continue to negotiate all agreements that may ensue as a result of e-publishing, try to place subsidiary rights where applicable, collect monies and review statements to make sure the author is being paid. In short, we will continue to be agents and do the myriad things that agents do.
Don't get me wrong. I'm dead against agents moving into publishing (when they remain agents). But is this the same thing?
From what I can tell, they are only offering services to assist their authors who choose to self-publish. They are still taking on work to be submitted to commercial publishers, they are not actually publishing the author's works themselves, and they are not charging a higher fee. If they were suddenly saying "and we'll get fifty percent" then I would see a conflict of interest, or if they were launching an actual publishing imprint, but that's not what they're discussing. It sounds to me like they're saying "New doors are opening up and if our clients are interested we will continue to work with them if they choose to take these new routes for the same rate at which we currently work." I don't have a problem with that.
They aren't taking the rights to the work, as dgaughran said. That's the main difference, IMO.
Exactly. And it's even more specific than that. This epub (whatever) option is only for rights that have reverted and manuscripts that can't be sold after an exhausted search for a traditional publishing house. By that time the work is already edited and ready for publication, usually because of the editing work the agent has put into it.
Yes, but I think Cyia's point (and my problem with it) is what exactly constitutes 'an exhausted search for a traditional publishing house'? That's where the conflict of interest comes in...when an agent expresses an ability and interest in 'helping' a client publish on their own rather, it starts a slippery slope. What's to stop it from becoming a viable alternative to 'saving energy' on a controversial MS or tough sell, rather than exhausting themselves searching for a traditional publisher for it or possibly risking valuable editorial contacts over a MS they're not fully behind? And that's just a for instance.
There's just a certain - something about it that doesn't sit well with me, even if technically it's entirely legit. I'm not sure how to enunciate it properly.
To those who are worried about this, I suggest looking at it from another perspective.
The problem with agents becoming publishers is that their interests will no longer be always aligned with yours. That's where the conflict is. Your worry is that the agent won't advise you impartially any more because they could make more money personally by recommending their publishing arm.
However, in this case, the agent's percentage is identical to what they would receive if they sell your book to a publishing company. So the agent is still strictly motivated, in a financial sense, to get you the best deal they can.
The problem with agent/publisher hybrids is that they get a higher percentage if you go with them. But in this case, because their cut is always 15%, that doesn't arise here.
The agent's interests are still aligned with yours. So there is no conflict.
I understand what you're saying KalenO, but no agent hammers away on the doors of publishing houses forever, trying to sell a manuscript. Sadly, sometimes they are simply not wanted. At that point, because they have been submitted to publishers, that MS is effectively dead, or doomed to be trunked for a number of years until, presumably, new editors are in place at the publishing houses.
DGLM's service basically says, "Hey, we fought for it. We think the publishing houses are wrong. Let's see what the market thinks. We've got contacts, let's use them."
And as an attorney, I can see no conflict of interest. The percentage is 15% and the enticement of traditional publishers will always be monetarily preferrable to the agent. If anything, such a policy is beneficial to the author, as there will be less chance of being dropped by the agency if the author's work can't be sold.
To those who are worried about this, I suggest looking at it from another perspective.
The problem with agents becoming publishers is that their interests will no longer be always aligned with yours. That's where the conflict is. Your worry is that the agent won't advise you impartially any more because they could make more money personally by recommending their publishing arm.
However, in this case, the agent's percentage is identical to what they would receive if they sell your book to a publishing company. So the agent is still strictly motivated, in a financial sense, to get you the best deal they can.
The problem with agent/publisher hybrids is that they get a higher percentage if you go with them. But in this case, because their cut is always 15%, that doesn't arise here.
The agent's interests are still aligned with yours. So there is no conflict.