Everton are set to upgrade the youngster's current deal.
"I think Bill Kenwright [chairman] has done a great job but I think they've had a phase where Rooney went, Rodwell has gone and Francis Jeffers has gone," Reid told talkSPORT.
"I think they've got a determined effort [to keep Barkley] because there's a feel good factor and there's an optimism around Goodison Park.
"So I don't think Bill will succumb to any financial pressure in selling any of the young players because there's a good group coming through in the under-21s and under-18s as well.
"I think the future all bodes well but you've got to keep your best players. You can't sell your best players and all that optimism that's been built up at Goodison Park, if you even dream about doing that, that will go."
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