I don’t understand the feature you’re asking about, but this is what we have:
In the theme the MY PROFILE page is private. We only have 1 registered user level. All people registering have access to MY PROFILE page.
We don’t have 2 user levels.
The option to allow people to register and have an agent post created automatically is on/off in Admin – membership. That on, people will have their MY PROFILE sync with Agent Post profile. It’s a theme feature that works only in front end, if enabled and if people register from the register menu in front end.