It is important, for any kind of artist, to understand exactly where they fit into the industry and how to best represent themselves to the consumer. For this, agencies are very helpful and (especially to graphic designers) are downright essential. Typically, those who are employed by agencies, similar to design houses, will work within the house style, however those who prefer freelance work and for themselves to be represented by an agency, they provide their own style - their own 'voice' to use, so to speak.
Agencies, however, are not exactly alike to design houses. Typically, design houses can offer a lot of collaborative work between their artists - agencies, on the other hand, are simply there to represent and offer artists up for potential clients.
[Source for the following information: http://www.digitalartsonline.co.uk/features/creative-business/how-get-illustration-agent/ ]
Agencies are completely optional but extremely essential to any artist looking to expand their horizons. They can help push for higher commission fees, help find many clients for you, and frees up time that would otherwise be spent trying to advertise yourself to potential customers.
You really need to research into any agencies you are planning on joining - you need to ensure that your work fits their profile, you are interested in the projects they can offer, and that they are willing to support your work for a fair amount of time.
Agencies typically look for artists who have already established their own style or it is apparent in their work that they have a clear direction in which they are heading. They need to know that they can market you and your work clearly to the public. It is also important that the artist is capable of team playing; oftentimes, agent and artist will be working alongside, and if the artist is unable to co-operate, that will make difficulties for the agency.
When first signing up to an agency, often they will already have a flat-rate sorted - that does not mean that the price of your work will not change according to how you progress. Flexibility within this is important - spikes in price will throw you out of the area of desire for clients, but too low a price will seriously undermine your work. Catching the balance in this situation is key.
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