The Suns have offered Reynolds an invitation to their training camp, and Tellem said, "We're talking about a potential contract."
Tellem also said, "There are plenty of other options" in Europe and the NBA Developmental League and that he would have a better handle on things within the next couple of weeks.
"Every year, there are a couple of players who either slip in the draft or go undrafted, and many of them end up making it," said Tellem, a Haverford College graduate. "I believe Scottie is going to make it."
The experience is nothing new to Reynolds. As a high school star in Virginia, he was described as a Division I talent in a Division III body. He parlayed that talent into 2,222 points in college, falling 22 short of breaking the school record held by Kerry Kittles.
"Within 3 minutes of the conclusion of the draft, [Suns coach] Alvin Gentry was on the phone, saying they really wanted him." Tellem said.
The opportunity would be there to become the team's fifth guard, backing up point guards Steve Nash and Goran Dragic.
"He worked out for them, but he's the type of player who will be better in games than in a workout," Tellem said. "He finds ways to win. He hits big shots. He knows how to play, and has an ability to play under pressure. He's a basketball player, and sometimes that can get beyond the scouts.
"Scottie knew going in how it was going to be. But sometimes, if you're not among the first 40 [the full first round and the first 10 in the second round], it's better not to be picked. Those final picks often don't get guaranteed money and have less chance of making it."
Tellem usually represents players more likely to go very high in the draft. He met Reynolds several years ago through Villanova coach Jay Wright.
"That first time, there was a spark there," Tellem said. "That stayed with me. After 10 minutes with him, [his personality] is infectious, and he played in my backyard. I wanted to help."