Generally through booking fees and commissions when they book their models on jobs. Most agencies take a 15-20% commission from the model s earnings, then get a 20% booking fee from the client. For example, if you book a model on job for $100, the agency would make $15-20 through commission (taken out of the model s pay - the model would receive $80-85) and a $20 booking fee from the client. An agency is only successful if they can book their models on as many high paying jobs as possible.It all depends on which clients your agents/bookers have relationships with.
By supplying models to those that need them. Ie - The fashion industry. They then pay the agency, and the agency pays the models a percentage.