A prospect can be found anywhere; it is a matter how the potential agent looks around. A friend or an associate could know someone that could turn into a prospect. A potential agent should also consider checking out high school games and camps and not just collegiate or professional games. The prospect should have skill but just as importantly have a code of ethics or character that aligns with the potential agent’s own.
The harder part will be having the prospect considering one as his or her agent. It helps to really get to know the athlete. It also helps to understand his inner circle and include those individuals in your discussions. Everything should be above board. Any agent willing to break the rules should be a red flag for the athlete.
For an athlete to consider anyone above reproach could be a fatal mistake. It is just as easy for a family member to steer the athlete wrong as Joe Smoe from down the street. And steering someone wrong does not lend itself to just financial decisions; it includes career direction, practicing practices, love, and just life decisions in general.
Therefore, an athlete should consider the reputation, character and qualifications of the agent. Some athletes believe a attorney-agent is a better choice than someone who is strictly an agent. That is due to the fact that an attorney-agent has more restrictions on his practice than a straight agent. An attorney-agent must follow a code of ethics as well as American Bar and state bar associations rules, policies, and laws. However, being an attorney-agent doesn’t guarantee one’s honesty.
The biggest clue if the player’s and agent’s ethical boundaries are the similar can be found on how the agent first approached the player. But there are other ways a player to determine where his agent’s ethical boundary is, a player should ask several questions like (a) does the agent accept favors or tickets from teams; (b) how does the agent feel about including the player in the negotiation process like seeing the offers or sitting in; (c) when would you recommend a player seek another agent’s services; and (d) how does the agent handle representing more than one player on a particular team?
A player may also want to figure out: (a) does the agent recommend a player to hold out; (b) What will you do for me once I decide I no longer want to play professionally; and (c) Have you ever been disbarred, suspended, reprimanded, censured, or otherwise disciplined or disqualified as an attorney, or as a member of any other profession? And there are several other questions a player should ask a prospective, or even current, agent. A player also needs to determine how he feels about an agent possible representing coaches as well as players.
An agent should always inform his client about any potential conflict of interests. However, like mentioned before, those conflicts are not easily seen especially in today’s market. Many people–agents included–feel it is okay to accept favors and build personal relationships in the business world. To a certain extent, building relationships are crucial to the agent’s ability to properly represent the player. An agent needs to build professional relationships with executives and team owners. But it creates a conflict of interest when the relationships become personal instead of professional.
As an individual agent one’s time and resources are limited even if one runs a small boutique sports agency. A corporate agency has more resources and more individuals whose time can be combined to assist the athlete. Therefore, an athlete can have an one stop shop for all of his needs–tax, negotiations, endorsement contracts and so forth. The potential problem with a corporate agency is the athlete is just one of many being serviced and can get lost in the shuffle. Those same items can be handled by an individual agent with the assistance of outside resources with the benefit of a more personal touch.
Source: Kenneth Shropshire