Fremantle had stormed home to draw level inside the final two minutes of Saturday night's clash at the SCG, with Michael Johnson and Nathan Fyfe running rampant.
The home side appeared powerless to stop the onslaught and the footy ended up in Johnson's hands, within scoring range, with less than a minute remaining.
Any score would give Fremantle victory.
As Johnson's kick headed towards the goal mouth, a pack of players leapt towards the footy; Swans players desperate to prevent a score; Fremantle players determined to force through a point.
Up popped Reid, whose sure hands pulled down the footy in a one-grab mark that ensured the Swans would share the spoils with their West Australian opponents.
It was Reid's 11th mark of the evening and one of the 22-year-old's most important, Sydney Swans coach John Longmire said.
"He made the right decision at that time to not let it get spoiled through," Longmire said after the match.
"That's one of the things we take out of the game.
"We did some things wrong in the last 10 or 15 minutes. That was one thing we did right and helped us get two points.
"That's what we learn from and that's what we take out of the game."
Over in the Fremantle rooms, coach Ross Lyon said there was "disappointment about the whole night".
After a positive start - the visitors kicked three of the first four goals of the match to lead by 15 points at the 12-minute mark of the opening term - Fremantle did not score another major until nine minutes into the third term.
Lyon said the team showed strong character to fight back after trailing by more than four goals midway through the final quarter.
"We probably pinched it at the end," he said.