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Q: When does a player, if drafted or in contact with major league team representatives, consider finding a manager or agent, and what is a typical arrangement with one?

A: Thank you for your question. Generally speaking, a player will begin to look for the services of an agent when they are serious about making the move to the professional level. For most players, there isn't a specific age or an event, like being drafted, that propels them to look for an agent. Enlisting the services of an agent is usually a personal decision. For most players, it comes at a time when they feel they need help in sorting out the business side of hockey (whether it be midway through their pro career or a few months before the entry draft). An agent will help them find potential teams to play for, negotiate playing contracts, and give general career advice to their players. With this said though, there are players at all levels, including the NHL, that do not use the services of a player agent. And, in some cases, players are represented by family members. For instance, Eric Lindros is represented by his father (now an NHLPA certified agent).
An important consideration for players seeking an agent is knowing that along with having an agent comes professional status. For players looking to compete or currently competing at the university level, having an agent would make them ineligible to play. When a player enlists the services of an agent, they have made the decision to leave their varsity career behind. This decision is often a very difficult one and should be made with help of family and friends. For some players, they have already encountered a similar decision when deciding to pursue Major Junior versus the NCAA. The decision to play Major Junior hockey comes with the knowledge that their eligibility in the NCAA will be forfeited. (Although currently, the NCAA is considering amending this rule. For additional information, see the Articles & News section) For these reasons, the decision to have an agent is a personal decision for every player.
Another consideration in this decision is the financial arrangement between the player and his/her agent for services rendered. Typically, an agent will be paid 3-5% of the value of the contract signed by the player. However, this rate may differ slightly from player to player. This money comes out of the player's contract money to pay for the agent's representation. As well, it is important to know that a reputable agent will not ask for any payment before a contract is signed.