Berahino has taken the Premier League by storm this season - scoring seven goals for West Brom - and his form saw him handed his first senior England call-up on Thursday.
The 21-year-old's stocks are set to rise on the back of his international selection for England's Euro 2016 qualifier at home to Slovenia on November 15 and a friendly against Scotland three days later.
With the likes of Everton and Tottenham already circling, Regis - who made over 240 league appearances for the Baggies between 1977 and 1985 - believes Berahino's development would be best served under Alan Irvine.
"It's about performing," Regis said. "I don't think it's time to talk about movement. It's come quick and fast for him.
"It's highly unlikely he would go in January. I wouldn't even be talking about moving, I know the media want to talk about moving but for him it's get your head down and play. It's out of his hands.
"It's always out of the player's hands. He just wants to get out and play, he is young in the game, and keep learning."
However, Regis - the last Albion player to represent England at senior level - admits the club will find it tough to keep hold of the sought-after forward if he continues his goalscoring form.
"It's a predatory game, if he keeps performing like he does with the lack of top class English players, if you want an English core he is going to be up there for the bigger boys definitely," the 56-year-old added.
"It is up to the Albion to keep him. Market forces arise in this situation. Everybody is for sale. I am sure the chairman and the board will recognise that and do whatever is needed.
"He scores goals, he shows a good attitude on the pitch and what is great about him at this moment of time is - he is on form. I hope he gets a look in [for England]."
