When to mutually agree a draw depends on the skill level and the position in question. An agreed draw is most reasonable when neither side believes they have real winning chances Sometimes players just chicken out in complex positions...
In this position being a pawn down it's in Black's interests to play for a draw.
😙 What is the next logical move for Black ?
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- click on White's 74th move for the position
👍 Wikipedia: King v King & Pawn
* note - Rule 4.4 in relation to this position