To self-publish or agent publish?

It's really August 19th, 2011 11:58pm

I've been vacillating between whether to self-publish my novel or to go the traditional route with an agent.
I've read several commentaries from authors who have gone either way and have come up with the following list of pros and cons for each.

I'd like to get your vote on which you'd suggest.

Self-publish Pro's

• Maintain creative control over written material-as in no one is changing my characters or plot but me.
• Faster turn-around for publication-pretty much instant.
• Control over personalizing marketing strategy.
• I choose when and where to travel and how often.
• Control over cost of material to public.
• Receive 100% of profit.
• Royalties are instant.

Agent Pro's

• Feedback on what market is currently looking for.
• Benefit of the Agent's contacts and networking.
• Guaranteed exposure in bookstores.
• Benefit of knowledge about how to promote and where to go.
• A whole marketing team behind me.
• Access to experienced book cover artists.
• Scheduling of interviews, signings and other promotions.
• Financial backing.
• Coaching for interviews.
• Promotions.
• Knowledge and experience about industry.
• Advance money to focus on writing.

Self-publish con's

• I have to front all of the capital.
• I have to set up all my own interviews and signingsand a lot of places don't care about self-published authors until they make it big.
• Most bookstores won't place a book that is self-published.
• I have to pay for my own editor.
• I have to do all of the ground work, ie, bar codes, ISBN registration, copywrite, etc..
• I have to come up with all my own promotions and book covers.
• I have to motivate myself.
• No advance money.

Agent Con's

• The publisher gets to decide how to promote and can stop all-together at which point I won't be allowed to do my own promotions or marketing-- as the book is theirs not mine.
• The agent and publisher can make edits to any portion of my novel, characters, length, plot, etc...
• The advance could be insufficient, since I am a first time writer this is likely.
• The publisher could decide that rather than the 7 book series I'm planning on they only want 4.
• Royalties are typically not seen as there are all these fees taken out. 80% of all books sold are expected to be returned, so I won't get paid for the majority of sales because of this.
• Royalties can be paid over a five year period.
• They can decide to stop circulating it whenever they choose.

So there are the major points. I tend to be going toward the self-publishing route. Especially, since my editor-- who was reading a part in my novel where Oprah was mentioned-- said, "By the time you get this published, Oprah will be long in the past and people won't know who she is." I've paraphrase, but that was pretty much spot on how she said it. Anyway, I am NOT that patient!

Tell me what you think, to Self-publish or to Not self-publish-- that is the question. Thanks!