**UNITED STATES						SECURITIES AND EXCHANGE COMMISSION**Washington, D.C. 20549**FORM 10-QSB					[x]** Quarterly Report Pursuant To Section 13 Or 15(D) Of The Securities Exchange Act Of 1934				For the quarterly period ended **July 31, 2007[  ]** Transition Report Under Section 13 Or 15(D) Of The Securities Exchange Act Of 1934				For the transition period from _____ to _____**COMMISSION FILE NUMBER    333-140131Reel Estate Services Inc.**(Name of small business issuer in its charter)				        **NEVADA                                                        98-0512515**(State or other jurisdiction of incorporation or organization)                 (I.R.S. Employer Identification No.)**103 - 1575 West 10th Ave, Vancouver, BC                                 V6J 5L1     **(Address of principal executive offices)                                         (Zip Code)**604-714-5959**Issuer’s telephone number

Check whether the issuer (1) filed all reports required to be filed by section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  **Yes [x]  No  [  ]**Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).   **Yes [x]  No  [  ]**State the number of shares outstanding of each of the issuer’s classes of common equity, as of the latest practicable date. **3,150,000 shares of common stock as of September 6, 2007**Transitional Small Business Disclosure Format (check one): **Yes [  ]  No [x]**

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**PART I**

**ITEM 1.          Financial Statements**The following consolidated interim unaudited financial statements of Reel Estate Services Inc. (the “Company”) for the three month period ended July 31, 2007 are included with this Quarterly Report on Form 10-QSB:

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|       | (a)        | Consolidated Balance Sheets as of July 31, 2007 and October 31, 2006;                                                                                                                                   |
|--------------------------------|-----------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                      |                                               |                                                                                                                                                                                                         |
|                                | (b)                                           | Consolidated Statements of Operations for the three months ended July 31, 2007, for the 9 months ended July 31, 2007, and for the period from January 12, 2006 (date of inception) to July 31, 2007;    |
|                      |                                               |                                                                                                                                                                                                         |
|                                | (c)                                           | Consolidated Statements of Cash Flows for the three months ended July 31, 2007, for the 9 months ended July 31, 2007 and for the period from January 12, 2006 (date of inception) to July 31, 2007; and |
|                      |                                               |                                                                                                                                                                                                         |
|                                | (d)                                           | Notes to Financial Statements.                                                                                                                                                                          |

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| REEL ESTATE SERVICES, INC.           |
|--------------------------------------|
| (A Development Stage Company)        |
| Balance Sheet                        |
|                            |  |  |  |  |  |  |
|                                      |  |  |  | July 31, 2007 |  | October 31, 2006 |
|                                      |  |  |  |  |  |  |
|                                      |  |  |  | (Unaudited) |  |  |
| ASSETS                               |  |  |  |
|                                      | Current Assets |  |  |  |
|                                      |  | Cash |  |  $           13,746 |  |  $           44,628 |
|                                      |  |  |  |  |  |  |
|                            |  |  |  |  |  |  |
|                                      |  | Total Current Assets |              13,746 |  |              44,628 |
|                                      |  |  |  |  |  |  |
|                            |  |  |  |  |  |  |
|                                      |  |  | Total Assets |  $           13,746 |  |  $           44,628 |
|                                      |  |  |  | ============== |  | ============== |
|                            |  |  |  |  |  |  |
|                            |  |  |  |  |  |  |
| LIABILITIES AND SHAREHOLDERS' EQUITY |  |  |  |
|                                      | Current Liabilities |  $                   - |  |  $                   - |
|                                      |  |  |  |  |  |  |
|                            |  |  |  |  |  |  |
|                                      |  |  | Total Liabilities |                       - |  |                       - |
|                            |  |  |  |  |  |  |
|                                      | Shareholders' Equity |  |  |  |
|                                      |  | Common Stock, $0.001 par value; authorized |  |  |  |
|                                      |  |  | 75,000,000 shares; issued and outstan- |  |  |  |
|                                      |  |  | ding 3,150,000 shares |                3,150 |  |                3,150 |
|                                      |  | Additional Paid-In Capital |              44,850 |  |              44,850 |
|                                      |  | Deficit accumulated during the development stage |             (34,254) |  |               (3,372) |
|                                      |  |  |  |  |  |  |
|                            |  |  |  |  |  |  |
|                                      |  |  | Total Shareholders' Equity |              13,746 |  |              44,628 |
|                                      |  |  |  |  |  |  |
|                            |  |  |  |  |  |  |
|                                      |  |  | Total Liabilities and Shareholders' Equity |  $           13,746 |  |  $           44,628 |
|                                      |  |  |  | ============== |  | ============== |

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| REEL ESTATE SERVICES, INC.           |
|--------------------------------------|
| (A Development Stage Company)        |
| Statement of Operations              |
| (Unaudited)                          |
|                            |  |  |  |  |  |  |
|                                      |  |  |  |  |  | Period from |
|                                      |  | For the  |  | For the  |  | January 12, 2006 |
|                                      |  | 3 months ended |  | 9 months ended |  | (date of inception) to |
|                                      |  | July 31, 2007 |  | July 31, 2007 |  | July 31, 2007 |
|                                      |  |  |  |  |  |  |
|                            |  |  |  |  |  |  |
| Revenue                              |  $                     - |  |  $                     - |  |  $                        - |
|                            |  |  |  |  |  |  |
| Cost of Sales                        |                         - |  |                         - |  |                            - |
|                                      |  |  |  |  |  |  |
|                            |  |  |  |  |  |  |
| Operating Loss                       |                         - |  |                         - |  |                            - |
|                            |  |  |  |  |  |  |
| General and Administrative Expenses: |  |  |  |  |  |
|                                      | Professional Fees |                     650 |  |                24,450 |  |                   27,450 |
|                                      | Other Administrative Expenses |                      21 |  |                  6,432 |  |                     6,804 |
|                                      |  |  |  |  |  |  |
|                            |  |  |  |  |  |  |
|                                      | Total General and Administrative Expenses |                     671 |  |                30,882 |  |                   34,254 |
|                                      |  |  |  |  |  |  |
|                            |  |  |  |  |  |  |
| Net Loss                             |  $               (671) |  |  $           (30,882) |  |  $              (34,254) |
|                                      |  | ============== |  | ============== |  | =============== |
|                            |  |  |  |  |  |  |
| Loss Per Common Share:               |  |  |  |  |  |
|                                      | Basic and diluted |  $             (0.000) |  |  $             (0.010) |  |  |
|                                      |  | ============== |  | ============== |  |  |
|                            |  |  |  |  |  |  |
| Weighted Average Shares Outstanding: |  |  |  |  |  |
|                                      | Basic and diluted |            3,150,000 |  |            3,150,000 |  |  |
|                                      |  | ============== |  | ============== |  |  |

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| REEL ESTATE SERVICES, INC.                        |
|---------------------------------------------------|
| (A Development Stage Company)                     |
| Statement of Cash Flows                           |
| (Unaudited)                                       |
|                                         |  |  |  |  |  |  |  |  |
|                                                   |  |  |  |  |  |  |  | Period from |
|                                              |  |  |  | For the  |  | For the  |  | January 12, 2006 |
|                                                   |  |  |  | 3 months ended |  | 9 months  ended |  | (date of inception) to |
|                                                   |  |  |  | July 31, 2007 |  | July 31, 2007 |  | July 31, 2007 |
|                                                   |  |  |  |  |  |  |  |  |
|                                         |  |  |  |  |  |  |  |  |
|  Cash flows from operating activities:  |  |  |  |  |  |
|                                                   |  Net loss  |  $              (671) |  |  $         (30,882) |  |  $                 (34,254) |
|                                                   |  Adjustments to reconcile net loss to net cash  |  |  |  |  |
|                                                   |  |  used by operating activities:  |  |  |  |  |  |
|                                                   |  Change in operating assets and liabilities:  |  |  |  |  |  |
|                                                   |  |  Increase in accounts payable and accrued  |  |  |  |  |
|                                                   |  |  liabilities  |                       - |  |                       - |  |                              - |
|                                                   |  |  |  |  |  |  |  |  |
|                                                   |  |  |  Net cash used by operating activities  |                  (671) |  |             (30,882) |  |                     (34,254) |
|                                                   |  |  |  |  |  |  |  |  |
|                                         |  |  |  |  |  |  |  |  |
|  Cash flows from financing activities:  |  |  |  |  |  |
|                                                   |  Common stock issued for cash  |                       - |  |                       - |  |                      48,000 |
|                                                   |  |  |  |  |  |  |  |  |
|                                                   |  |  |  Net cash (used) provided by financing  |  |  |  |  |
|                                                   |  |  |  activities  |                       - |  |                       - |  |                      48,000 |
|                                                   |  |  |  |  |  |  |  |  |
|                                         |  |  |  |  |  |  |  |  |
|  Net increase (decrease) in cash        |                  (671) |  |             (30,882) |  |                      13,746 |
|                                         |  |  |  |  |  |  |  |  |
|  Cash, beginning of the period          |               14,417 |  |               44,628 |  |                              - |
|                                                   |  |  |  |  |  |  |  |  |
|                                         |  |  |  |  |  |  |  |  |
|  Cash, end of the period                |  $           13,746 |  |  $           13,746 |  |  $                  13,746 |
|                                                   |  |  |  | ============== |  | ============== |  | =============== |
|                                         |  |  |  |  |  |  |  |  |
|                                         |  |  |  |  |  |  |  |  |
|  Supplemental cash flow disclosure:     |  |  |  |  |  |
|                                                   |  Interest paid  |  $                   - |  |  $                   - |   |  $                           - |
|                                                   |  |  |  | ============== |  | ============== |  | =============== |
|                                                   |  Taxes paid  |  $                   - |  |  $                   - |   |  $                           - |
|                                                   |  |  |  | ============== |  | ============== |  | =============== |

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**OVERVIEW**Reel Estate Services Inc. was incorporated in Nevada as a development stage company on January 12th, 2006 to create a web-based service that lists properties across the globe that are available for rental and/or use by film and television companies as filming locations. Traditionally companies looking to film in an ideal location will retain the services of brokers who will scout locations on the company’s behalf and in turn will charge a commission on the rental of the location.  Management believes that with the introduction of Reel Estate Services this process will become obsolete.  The mission of Reel Estate Services is to make listing and searching for locations the easiest, most accessible, and cost-effective method available through its website, www.reelestateservices.com, filling a void now in the market.			We have commenced development work on our website, and expect to launch the completed website by the end of November 2007.**PLAN OF OPERATIONS**Reel Estate Services plan of operations is set forth below:**Phase I.**

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- Design and construct the Reel Estate website, including establishment of an e-commerce capability (i.e. merchant relationships with credit card companies and Paypal),			     Development of Internet marketing strategies for location owners and industry professionals,			Develop lists of industry professionals and location scouts,			
- Developing targeted marketing content to future clients.		  Phase one has been commenced and the construction and design of the website is underway. The budget for phase one is estimated at $20,000, and is expected to be completed by the end of 2007. The website is expected to be completed by the end of November 2007.**Phase II**.  The second phase of the operating plan is expected to be devoted to implementing an aggressive marketing effort to gain initial listings and begin to reach critical mass.  The President of Reel Estate Services Inc., Leah Balderson, will spearhead this effort.  Due to the nature of the costs involved and the fact that Ms. Balderson will not be receiving a salary at this time, expenses related to phase two are expected to be less than $10,000. We plan to begin this phase in January 2008.  
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            Phase III .  If Reel Estate Services is successful in reaching critical mass and begins to generate revenue, additional marketing and other expenses may be incurred to further broaden the reach of the business, which may involve hiring one or more additional staff to handle increased demands, site monitoring, and customer support.  There may be additional demands placed on the company for website development and the need to broaden the management team.  Depending on availability of funds and the opportunities available to the Company, Reel Estate Services may also hire additional marketing personnel to access additional sales and distribution channels.     		Our current cash position will satisfy the requirements of the first and second phase of our business plan.     Going Concern We have not attained profitable operations and are dependent upon obtaining financing or profits from commissions through our website. For these reasons our auditors stated in their report on our audited financial statements that they have substantial doubt we will be able to continue as a going concern.     Future Financings We plan to offer and sell our common shares and/or arrange for debt financing in order to fund our business operations.  There can be no assurance that additional funding will be available on favorable terms, if at all. If adequate funds are not available, we may be required to curtail operations significantly.  Issuances of additional shares will result in dilution to our existing shareholders.     Off-Balance Sheet Arrangements We have no significant off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to stockholders.     
**FORWARD LOOKING STATEMENTS**
  
Certain matters discussed or referenced in this report, including expectation of increased revenues and continuing losses, our financing requirements, our capital expenditures and our prospects for the development of our grocery distribution business, are forward-looking statements. Other forward-looking statements may be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “believe”, “estimate”, “anticipate”, “intend”, “continue”, or similar terms, variations of such terms or the negative of such terms. All forward-looking statements speak only as of the date of this report, and we expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this report to reflect 
  
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  				any change in our expectations with regard to such statements or any change in events, conditions or circumstances on which any such statement is based. Although such statements are based upon our current expectations, and we believe such expectations are reasonable, such expectations, and the forward-looking statements based on them, are subject to a number of factors, risks and uncertainties that could cause our actual results to differ materially from those described in the forward-looking statements, including those described below and in our other filings with the Securities and Exchange Commission.**ITEM 3.  Controls and Procedures.**As required by Rule 13a-15 under the Securities Exchange Act of 1934 (the "Exchange Act"), we carried out an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures as of July 31, 2007, being the date of our most recently completed fiscal quarter. This evaluation was carried out under the supervision and with the participation of our Chief Executive Officer and Chief Financial Officer, Ms. Leah Balderson. Based upon that evaluation, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures are effective in timely alerting management to material information relating to us required to be included in our periodic SEC filings. There have been no significant changes in our internal controls or in other factors that could significantly affect internal controls subsequent to the date we carried out our evaluation.				Disclosure controls and procedures are controls and other procedures that are designed to ensure that information required to be disclosed in our reports filed or submitted under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Securities and Exchange Commission's rules and forms.				Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed in our reports filed under the Exchange Act is accumulated and communicated to management, including our Chief Executive Officer and our Chief Financial Officer, to allow timely decisions regarding required disclosure.				During our most recently completed fiscal quarter ended July 31, 2007 there were no changes in our internal control over financial reporting that have materially affected, or are reasonably likely to affect, our internal control over financial reporting.			The term "internal control over financial reporting" is defined as a process designed by, or under the supervision of, the registrant's principal executive and principal financial officers, or persons performing similar functions, and effected by the registrant's board of directors, management and other personnel, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles and includes those policies and procedures that:  
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(a)     

Pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of the assets of the registrant;

  

(b)     

Provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the registrant are being made only in accordance with authorizations of management and directors of the registrant; and

  

(c)     

Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the registrant's assets that could have a material effect on the financial statements.
      
**PART II**
  
**Item 1.     Legal Proceedings**We are not party to any legal proceedings.**Item 2.     Unregistered Sales of Equity Securities**We did not issue any securities without registration pursuant to the Securities Act of 1933 during the three months ended July 31, 2007.**Item 3.     Defaults Upon Senior Securities**None**Item 4.     Submission of Matters to a Vote of Securities Holders**No matters were submitted to our security holders for a vote during the quarter of our fiscal year ending July 31, 2007.**Item 5.     Other Information**There were no material changes to the procedures by which security holders may recommend nominees to the registrant's board of directors.**Item 6.     Exhibits and Reports on Form 8K****EXHIBITS AND REPORTS ON FORM 8-K.					     ****(a)   Exhibits and Index of Exhibits**
  
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**Exhibit							Number**

**Description of Exhibit**

31.1            

Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

32.1

Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
    (b) Reports on Form 8-K. The Company did not file any Current Reports on Form 8-K during the three month period ended July 31, 2007 and has not filed any Current Reports on Form 8-K since July 31, 2007.     
**SIGNATURES**
  
Pursuant to the requirements of the Securities Exchange Act of 1934, this Report has been signed by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.				REEL ESTATE SERVICES INC.
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Date: September 6, 2007

By:  

/s/ Leah Balderson     

 

Leah Balderson

 

Title: President, Chief Executive Officer,						Chief Financial Officer and Director
    
Date: September 6, 2007

By:  

/s/ Jeffrey Hunter       

 

Jeffrey Hunter

 

Title: Director
    
Date: September 6, 2007

By:  

/s/ Ian Pedersen         

 

Ian Pedersen

 

Title: Director
            
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