With prose, agents theoretically aren't as essential, but you're vastly better off with one than without one. Yes, you have to give them a cut of the profits, but they have the connections to improve your chances of making a profit at all and to get you a bigger profit than you would without them, so it adds up. Because they get a fixed percentage of what you earn, it's in their own interest to help you make as much money as possible. And they can protect you from being taken advantage of. Just so long as you choose an agent carefully and don't fall for one of the scams.
They may help protect you from being taken advantage of by others but they can still take advantage of you themselves.
The agent isn't an agent out of the goodness of their heart any more than an editor is. Their job is to make as much money as possible.
So agents and editors are in it for the money, is that it? Not because they like their job? Then somebody should've told them that they picked the wrong profession to get rich, because there's not all that much money in publishing (in general; I'm not talking about the exceptions like King, Grisham, Rowling, Brown or Meyer).
I take it you haven't read any of the many agents' blogs out there. Take some time and do that; it's worth it.
The editor doesn't actually get any sort of royalties. They're salaried employees, working for a weekly paycheck for the publisher. It's like most any other job. If the books you edit make money, your boss is happy and maybe you'll get a raise or promotion somewhere down the road. If your books consistently lose money, you'd better sign up a bestseller soon!
Greg Cox just brought this up in the thread Are Trek Authors feeling the squeeze of less books? The agents and editors aren't there to make the books good, they're there to make them popular.
The editor doesn't actually get any sort of royalties. They're salaried employees, working for a weekly paycheck for the publisher. It's like most any other job. If the books you edit make money, your boss is happy and maybe you'll get a raise or promotion somewhere down the road. If your books consistently lose money, you'd better sign up a bestseller soon!
Good and popular = best
Not as good but more popular = good for publisher/editor & agent, either way for the author
Good and less popular = not as good for publisher/editor & agent, either way for author
Not as good and less popular = not good for anyone
I'm not saying that editors don't care about quality, of course they do. But when it comes down to it it's all about the Benjamins.
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