Getty has shown interest in some of my images in flickr. This is my first time experience with microstock agencies. I am kind of nervous as well as excited. Is there anything in particular I should know or be aware of before involving in this?
Well, Getty isn't really microstock, they're probably the king of stock photography in general. The only thing I would be reluctant about with Getty is some recent behavior around their treatment of longtime artistic photographers under contract.
So, I think Getty is counting on good amateur photographers being excited about possibly getting published, maybe earning a little bit for their images, that they're using it as a hammer on people who previously dedicated their work to it. It doesn't speak well for Getty in my opinion.