The 21-year-old will, from next season, have to be registered in Sunderland's 25-man squad for the Premier League if he is to feature for the Black Cats, and is unsure as to whether he will be offered terms.
Reed said after Tuesday's 0-0 draw: "My contract is up in the summer and I've been out on loan a lot, so I've played quite a few league games now. But then you go back and you don't get an opportunity - so it gets a bit frustrating.
"I know I will have to look at my future and I will find out sooner rather than later whether they will offer me a contract or whether I want to find another club and play first-team football.
"I've been there a long time and it will be hard to make that decision if I decide to leave. But every player wants to play first-team football once you've had that taste.
"There is no better feeling than playing a proper game at 3pm on a Saturday.
"To play in front of fans makes it a proper competitive game. It's hard to go back to playing in the Under-21s when you have had a taste of that.
"There is nothing like league football and if I am meant to play at the highest level, I will get there."
Meanwhile, the Black Cats are understood to be looking at Zambian defender Stoppila Sunzu who is on Wearside for a trial.
The centre-half had a trial at Reading during the transfer window and was presented to the Royals as a free agent, but his club TP Mazembe argued that he was contracted until 2015, causing the deal to break down.