Smith, an unrestricted free agent, has discussed his future with Geelong coach Chris Scott as the Cats make a late play for the winger.
There is believed to be mutual interest, with Scott expressing his desire to land Smith, while the Hawks veteran could be in the running for a fourth premiership.
The Hawks are still hoping Smith remains in the brown and gold, while the Demons are also in the race for the 31-year-old.
The Demons are understood to have offered a three-year deal for Smith, while the Cats and Hawks have placed two-year contracts on the table.
The free ggency window opens on Friday, with Smith able to walk to his club of choosing.