Lucienne Diver posted a great blog recently about warning signs for less-than-scrupulous literary agents and publishers.
Third, money should flow to the author and not away. This means that you shouldn’t be paying reading fees, “expedited reading” fees, contract fees or any other expenses up front. The commission structure of agenting means that we don’t make money unless you do. It’s shared risk and shared gain. Agencies might take deductions from payments going to the author for set things that would have been discussed or delineated in their contracts ahead of time, but no up front fees.
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