The Mavs want to hold on to the second-year guard unless they receive good value in a potential deal, notes MacMahon.
The Mavs drafted Smith ninth overall in 2017, but he's been subject to trade rumors due to skepticism surrounding his fit alongside rookie phenom Luka Doncic.
Dallas is scoring 100.9 points per 100 possessions with the duo on the floor, only slightly higher than the Chicago Bulls' league-worst mark.
Smith has recently expressed his desire to be traded and is frustrated with his role in the offense, a source told MacMahon. Friction has also reportedly developed between Smith and head coach Rick Carlisle.
A scout who recently saw Dallas play said Carlisle calls specific plays for Smith in an attempt to get him going, but then Smith breaks them off, leaving the coach frustrated, according to ESPN's Tim Bontemps.
Various injuries have kept Smith sidelined, but the 21-year-old has contributed when healthy, averaging 12.6 points on 44.3 percent shooting through 28 games this season.