Literary Agent

Literary agents traditionally serve as liaisons between authors and publishers. An agent handles the submission of books to editors, contract negotiations, and certain financial matters for the author. For example, when royalty statements are issued, they are generally sent to the agent who verifies accuracy before sending the statement and associated royalties to the author -- after deducting the agent's negotiated commission (10 - 15% of amounts received, though the 15% number is more common these days).

As a rule, agents continue to collect commissions on works they've sold for as long as the sale remains in effect (the lifetime of the contract, including any extensions). These commissions are due the agent whether or not the author continues to work with that agent. A trickier issue arises when agents try to insert clauses into their agreements that entitle them to lifetime royalties on a book -- regardless of who makes the sale. Authors need to be careful when it comes to entering into agent agreements to ensure that both parties are treated fairly.

Top agents in the romance genre include Deidre Knight.