When to secure a contract

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I am working very well with an agent on my book -- we have done some final editing and are now working through the proposal. However, I do not have the relationship formalized yet.

Do agents wait until everything is ready to shop to a publisher before they sign on as your agent, or is now the typical time to do it?

The agent has been great to work with, so no complaints there. i just like the notion of mutuality in the working relationship as I embark on this next phase of shaping the proposal.

Thanks for any perspectives.