Question about travel agency air fares

We will be traveling to Europe in may and I have been tracking fares for a few months. I was finding prices to be around 1400-1700 for some itineraries depending on the cities. I spoke to a travel agency who quoted me a price of 1240 and 1290 for the 1700 itinerary. Te latter having a restricted designation and only getting 2800 miles.

I had no idea travel agencies were still able to save this much money off fares. My question is, are there any other restrictions on these fares besides the lower miles? How do they get the tickets for that much cheaper?