He averaged 10.3 points and 3.6 rebounds per game throughout four seasons of playing time, with his best averages being 14.9 points and 4.8 rebounds in his last season for Miami. Reed developed a reputation as a good shooter who can defend four positions. As a senior he was named to the All-Atlantic Coast Conference Third Team and All-Atlantic Coast Conference Defensive Team, as well as earned the Skip Prosser Award for Scholar Athletes.
Reed was selected as the 32nd pick of the 2017 NBA Draft by the Phoenix Suns. He joined fellow rookies Josh Jackson and Alec Peters in the 2017 NBA Summer League alongside Suns' players Dragan Bender, Marquese Chriss, Tyler Ulis, and Derrick Jones Jr.. Reed signed a four-year deal with the Suns on July 6, 2017. In the 2017 Summer League, Reed recorded averages of 14.0 points, 4.0 rebounds, 1.2 assists, and 1.2 steals per game in six games. On August 25, 2017, it was announced that Reed would have surgery on his left meniscus and miss the next four to six months. On December 28, Reed was assigned to the Northern Arizona Suns. He played his first professional game with Northern Arizona on January 2, 2018, recording 11 points, 3 assists, and 2 rebounds in 20 minutes of play during a 113–108 win over the Rio Grande Valley Vipers. He played one more game on January 5 recording 10 points, 8 rebounds, and 5 assists in 22 minutes during a 125–104 win over the Reno Bighorns before being called up to Phoenix the next day. However, he did not play for Phoenix and was reassigned to Northern Arizona on January 8. He returned to Phoenix after the annual NBA G League Showcase on January 12. Reed made his NBA debut with Phoenix on January 14, recording a rebound in less than four minutes of play during a blowout loss to the Indiana Pacers. He returned to Northern Arizona on January 21 and then back to Phoenix six days later. He recorded his first assist in a loss to the Memphis Grizzlies on January 29 before recording his first basket and a steal in a loss to the Utah Jazz on February 2. On March 10, after completing more assignments in Northern Arizona, Reed had his best game with Phoenix recording a season-high 16 points, making all four of his three-point shots, 6 rebounds, and 2 assists in a 122–115 loss to the Charlotte Hornets. On July 1, 2018, Reed was added to the Phoenix Suns' 2018 NBA Summer League team alongside the majority of the team's young squad. In the team's first Summer League game, Reed scored 18 points, including 4 of 5 three-pointers made, 3 rebounds, 2 steals, an assist, and a block in a 92–85 win over the Dallas Mavericks. The next day, Reed recorded 12 points, 5 rebounds, 3 assists, and 2 steals in a 71–63 win over the Sacramento Kings. At the end of the event, Reed averaged 13.4 points, 4.4 rebounds, 3 assists, and 0.8 steals per game and Phoenix guaranteed his contract for a second year. However, on October 16, 2018, Reed was waived by the Phoenix Suns and replaced on the roster by veteran Jamal Crawford.
On October 19, three days after being waived by the Suns, Reed signed a two-way contract with the Indiana Pacers and their NBA G League affiliate, the Fort Wayne Mad Ants. He filled the roster spot held by C. J. Wilcox after he suffered a season-ending injury.
On September 4, 2019, Reed signed with the Miami Heat. Following training camp, Reed was added to the roster of the Heat's NBA G League affiliate, the Sioux Falls Skyforce. On February 5, 2020, Reed posted 29 points, 11 rebounds, eight assists and three steals for Sioux Falls in a 123-117 loss to the Iowa Wolves. Reed averaged 12.7 points, 6.6 rebounds and 3.8 assists per game and became the only player in the G League to have at least 500 points, 250 rebounds and 150 assists.
