Just because you get a six figure book deal offer, doesn’t mean you should accept it.
Let me explain…
Years ago (when I was still a literary agent) I got a query letter from a hot new author. She had everything going for her, so I was confident (at least as confident as an agent can be) that I was going to get her a six figure book deal.
In fact, I was so confident that I held an auction for her work. That means I contacted publishers on her behalf and made a bigger fuss than normal about how her book was going to transform publishing, change the world as we know it, and make tons of money for everyone involved.
Now, imagine yourself as that author…
* * *
Six Figure Book Deal: The Phone Call
You’re sitting at home, hard at work on your second book (more accurately, you’re pretending to be hard at work because you can’t concentrate… knowing there are several publishers bidding on your work). And you’re expecting to hear from your agent at any moment.
You look at your computer screen and try to focus, but all you can see are four glowing words, repeating themselves again and again…
six figure book deal six figure book deal six figure book deal six figure book deal six figure book deal six figure book deal six figure book deal six figure book deal six figure book deal six figure book deal six figure book deal six figure book deal six figure book deal six figure book deal six figure book deal six figure book deal six figure book deal six figure book deal
It seems you’ve been typing the phrase repeatedly… kind of like when you first fell in love and kept doodling the name of your crush on paper in different colors and fonts.
You look at the computer screen, then the clock (again, and again, and again).
Back and forth like you’re at Wimbledon.
Finally… the phone rings.
It’s your agent.
“Hey, Rock Star! Who do you love?”
“My agent, of course,” you reply nervously.
“Exxxcellent. Here’s the situation (dramatic pause). Five publishers were interested in your book, but only two of them met the deadline. House A is offering a $40,000 advance. House B is offering $100,000. Yes, a six figure book deal… very unusual for a first time author. Those are the final offers and we have to make a decision in the next hour.”
“Well, House B. The six figure book deal. It’s obvious, isn’t it?”
“Not really,” says your agent. “In fact, I recommend you take the lower offer.”
(long pause)
“Did you say, ‘The lower offer’?”
“I did, but hear me out. First, House B is offering you a six figure book deal, but they want to publish your books as paperback originals. No hardcover. That means less prestige, fewer reviews, and probably less money in the long run. Second, the acquiring editor at House B is just a Senior Editor and seems like a control freak. I haven’t worked with her before, but I made some calls. Everyone I talked to says to stay away from her, unless she’s our last resort. The editor at House A, on the other hand, is the Vice President of his imprint. He has more influence and he’s as sweet as a Georgia peach. Third, House A wants to publish your first book in 9 months. House B wants to wait 15 months. And, finally, House A loves the synopsis you wrote for you second book… the one that we think is going to be a huge hit. House B doesn’t like it at all, and they want you to write something else. All of the other terms of the deal (like royalty rates, etc.) are identical.”
“This isn’t going to be any easy decision,” you say.
“No, it isn’t. But it is your decision. Every agent handles deals differently, and a lot of agents are happy to tell you what to do. I don’t do that. My recommendation is that you go with House B, but you’re the one that has to decide. That way you can’t hold it against me if you follow my advice and regret it later. Ha-ha-ha.”
* * *
Six Figure Book Deal: Conclusion
The conversation above is exactly how it went down. We ended up going with the “smaller” deal (but you probably figured that out as soon as you read the title of this article). And, yes, the publisher that made the six figure book deal offer was shocked.
But we made the wise decision. Money is important, but money isn’t everything. Yes, a (former) literary agent just went on record saying that money isn’t everything.
I know… shocking, right?
But true,
Mark
* * *
* * *
MARK MALATESTA is a former literary agent turned author coach. Mark now helps authors of all genres (fiction, nonfiction, and children's books) get top literary agents, publishers, and book deals through his company 
MARK MALATESTA is a former literary agent turned author coach. Mark now helps authors of all genres (fiction, nonfiction, and children's books) get top literary agents, publishers, and book deals through his company 
Thanks, Mark, for an inspiring dose of common sense. You make it clear that there is no substitute for doing your research, paying attention to detail, and considering the big picture.
Regards, Mike B.
🙂
Mark
Not everyone is fortunate enough to land an agent willing to point out the pros and cons of each offer. A first time author might be overwhelmed and sorely in need of funds. Also, I assume the agent gets a cut of the money so he/she might lead the author astray.
Hi Darlien,
That’s true, but most agents are decent people… and what’s good for the author is usually good for the agent. 🙂
Have a great day!
– Mark
Mark Malatesta
The Bestselling Author
http://thebestsellingauthor.com
Literary Agent Undercover
https://literary-agents.com
Hi Mark,
From everything I have read on your post, I have not been able to conclude that you also have coached first time authors of nonfiction books such as art/ science philosophy. Would you please clarify that?
Thanks, Mohsen
Hi Mohsen, I’ve worked with authors of virtually all genres in one way or another, at this point. The principles of good writing and fashioning a compelling pitch, however, are the same for every genre. Some categories require special considerations, but not much.
If you want help with anything else, you can post more questions for me online here: http://thebestsellingauthor.com/ask/. You can also (if you haven’t done so already) get access (no cost) to all the valuable resources in our private, members-only area here: http://thebestsellingauthor.com/membership/. And you can register for an introductory coaching call with me here: http://thebestsellingauthor.com/coaching/intro-call/.
Either way, I’m looking forward to learning more about you and your work.
Have a great day,
– Mark
Mark Malatesta
The Bestselling Author
http://thebestsellingauthor.com
Literary Agent Undercover
https://literary-agents.com
Mark, you said: “Most agents (good ones, anyway) are particular and downright obsessive about details. They can also be completely unforgiving if you don’t follow their instructions.” Then you said to read the article (click the link below) to find out more but then the link led to an article about a 6 figure deal. Where’s the article on Agent’s detail demands?” Thx Mark
Hi Richard,
Thanks. I resent the newsletter with the correct link. Here it is again for your convenience in case you didn’t see it or get to it yet: https://literary-agents.com/literary-agent-guidelines/.
Have a great day!
– Mark
Mark Malatesta
The Bestselling Author
http://thebestsellingauthor.com
Literary Agent Undercover
https://literary-agents.com
Awesome. I would have made the same choice after hearing all the details
🙂
Mark
So these two book deals discuss hard cover and soft cover, but we all know that the new presentations discuss e-books. So I would like to know how this scenario might have played out had e-books been in the equation. I want to be discussing the real literary world.
Hi Nancy,
Most major publishers offer the same thing when it comes to compensation for eBook royalties… as well as royalties for hardcover and paperback royalties… but it’s good you’re thinking about the different variables that might be a factor.
– Mark
Mark Malatesta
The Bestselling Author
http://thebestsellingauthor.com
Literary Agent Undercover
https://literary-agents.com
aloha Mark, flexibility in life is important and the publishing biz is only one part of one’s life. Lawrence Block gave a history of his writing the Bernie Rhodenbarr ‘Burglar’ series. (I’m a big, big fan of that series.) The bottom line was his flexibility in writing the first which led to a 6 figure book deal.
Hi Peter, absolutely, flexibility goes a long, long way. It can be annoying having to do it sometimes, but it’s often well worth it. 😉
Enjoy your day!
– Mark
Mark Malatesta
The Bestselling Author
http://thebestsellingauthor.com
Literary Agent Undercover
https://literary-agents.com
Sometimes you have to roll with the lows to get the repeated highs. But either of those would’ve been a good decision. Take the 6 figure book deal with the paperback cover…. cool. Then, once you are established, you can seek a different publisher for the second book. But then again, there is that burning bridges thing… Indeed, sounds like a hard decision.
Hi Nikki, you’re right… a roll of the dice… it would have been great either way… a good problem to have. 😉
Have a great day!
– Mark
Mark Malatesta
The Bestselling Author
http://thebestsellingauthor.com
Literary Agent Undercover
https://literary-agents.com
Hi Mark, I can see the long term for that kind of deal which I would indeed love. I say that as I have no agent or deals of any kind and I would to be in a position where I had that kind of decision to make. I would also like to have the spare money to send you for this current offer, but I needed a new tire for my motorcycle.
I will continue to read your e-mails and scan your website, but as a state employee I have limited resources.
I will keep writing!
Thanks and I love your articles.
Ron
Hi Ron, I have more than 100,000 miles logged on various motorcycles… and you only have two wheels under you so you better have good tires. 😉
Glad you liked the article, by the way, and thanks for saying hello.
If you want help with anything, you can post questions for me online here (no cost): http://thebestsellingauthor.com/ask/. You can also (if you haven’t done so already) get access (no cost) to all the valuable resources in our private, members-only area here: http://thebestsellingauthor.com/membership/. And, if/when you’re ready (even if it’s down the road) you can register for an introductory coaching call with me here: http://thebestsellingauthor.com/coaching/intro-call/.
Either way, I’m looking forward to learning more about you and your work.
Have a great day!
– Mark
Mark Malatesta
The Bestselling Author
http://thebestsellingauthor.com
Literary Agent Undercover
https://literary-agents.com
If I felt like I only had one book in me, I might jump at the six figure advance, but I feel I have a lot more to say than can be contained in one book. Building relationships is extremely important in writing. I would always go with the publishing house that is also interested in another project. Sooner or later the big contracts will come along.
Hi David, well said… and I work with some authors like that… but usually it’s authors who are committed and have more than one book in them. Glad to know you’re one of those. 😉
If I can help you with anything, don’t hesitate to let me know. You can post questions for me online here: http://thebestsellingauthor.com/ask/. You can also (if you haven’t done so already) get access (no cost) to all the valuable resources in our private, members-only area here: http://thebestsellingauthor.com/membership/. And you can register for an introductory coaching call with me here: http://thebestsellingauthor.com/coaching/intro-call/.
Either way, I’m looking forward to learning more about you and your work.
Have a great day!
– Mark
Mark Malatesta
The Bestselling Author
http://thebestsellingauthor.com
Literary Agent Undercover
https://literary-agents.com
After reading many of your weekly missives, I truly trust your judgment, Mark. Since I am so new at this, I depend on you to guide me, and I feel confident you won’t misguide me. Enjoyed this article.
Thank you Meganne, I appreciate that very much. Every person and project is somewhat different so it’s important to always keep that in mind.
Have a great day!
– Mark
Mark Malatesta
The Bestselling Author
http://thebestsellingauthor.com
Literary Agent Undercover
https://literary-agents.com
Thank you for sharing! It put a real, in-your-face spin on the world of book writing/publisher shopping. The agent in this case had his client (the author) in his best interest and not just pushing the big deal (to increase his/her part of the take).
Hi Tabitha,
Thank you for the kind comment.
If I can help you with anything, don’t hesitate to let me know. You can post questions for me online here: http://thebestsellingauthor.com/ask/. You can also (if you haven’t done so already) get access (no cost) to all the valuable resources in our private, members-only area here: http://thebestsellingauthor.com/membership/. And you can register for an introductory coaching call with me here: http://thebestsellingauthor.com/coaching/intro-call/.
Either way, I’m looking forward to learning more about you and your work.
Have a great day!
– Mark
Mark Malatesta
The Bestselling Author
http://thebestsellingauthor.com
Literary Agent Undercover
https://literary-agents.com
I read this article a few years back and I want to tell you that it’s great you repeat it because sometimes I forget and sometimes re-reading makes me realize I had to ask you some questions I never thought of before. Something to keep in mind for the future when I start querying.
Thank you Saw-Lian and have a great day!
– Mark
Mark Malatesta
The Bestselling Author
http://thebestsellingauthor.com
Literary Agent Undercover
https://literary-agents.com
Sounds like a sensible agent to me; after all it is the enduring career that’s important.
Thanks Jeff, and if I can help you in any way… let me know. You can post questions for me online here: http://thebestsellingauthor.com/ask/. You can also (if you haven’t done so already) get access (no cost) to all the valuable resources in our private, members-only area here: http://thebestsellingauthor.com/membership/. And you can register for an introductory coaching call with me here: http://thebestsellingauthor.com/coaching/intro-call/. Either way, I’m looking forward to learning more about you and your work.
Have a great day and thanks for posting,
– Mark
Mark Malatesta
The Bestselling Author
http://thebestsellingauthor.com
Literary Agent Undercover
https://literary-agents.com
Regardless the offer, it comes down to who’s the most serious, and that can’t be determined by the money alone. There are other questions like if the book will be an “A-list” title, numbers in print runs, how much marketing the publisher will do (and NO, I don’t think this is all the author’s job), etc. Look, if the book bombs you can pretty much kiss your career goodbye. For all but new authors, publishers check sales figures from previous books.
Hi Jon,
Very true!
Although, even if a book bombs, it’s not over.
Just harder,
– Mark
Mark Malatesta
The Bestselling Author
http://thebestsellingauthor.com
Literary Agent Undercover
https://literary-agents.com
Thanks, Mark! Didn’t mean to sound like a defeatist. Just a bit cynical at times. 😉
No worries, I know what it’s like out there!
– Mark
Mark Malatesta
The Bestselling Author
http://thebestsellingauthor.com
Literary Agent Undercover
https://literary-agents.com
I am learning so many things when doing my first book. This one story, assuming this is one of many, sure helped. Many different things to pay attention to in making good decisions in, well, many decisions I didn’t even know I have to make…that is until now. Thanks for sharing this.
Thank you Marianne, like everything else in life, book deals are sometimes more complicated than one might expect–or desire. 😉
Have a great day and thank you for the kind words,
– Mark
Mark Malatesta
The Bestselling Author
http://thebestsellingauthor.com
Literary Agent Undercover
https://literary-agents.com
That wouldn’t have been a difficult decision at all. Of course the lower offer was a better deal. Six figures is great but TERMS and RELATIONSHIP are invaluable, especially when you’re coming from a Corporate America mindset. I want to make a living from my novels, but I also want to ENJOY working with those involved, not dread it. It’s not about the short term.
Hi Jack. Amen. Mark