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Most agents I know are on the backside and in the racing office all the time. By virtue of just being there, you will hear and see a lot.
That being said, if you are really following the meet and in tune with the horse population/who was running where/condition book, add in some workouts, you can pretty accurately get an idea of who is running in 90% of the races being drawn. Add to that, they share a ton of information and have insight into what trainer is entering who.
I agree with the previous comment, while it is an edge, its not a huge one by any means. Do the work and you wont need it.
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