The 23-year-old scored 21 Premier League goals last season as Spurs finished fifth in the Premier League, and he is expected to sign a new contract worth £130,000 at White Hart Lane this summer.
But with Neymar having moved to Barcelona, La Liga rivals Madrid are said to have stepped up their interest in Bale and his agent, Jonathan Barnett, has encouraged a move.
|3/1||Gareth Bale is 3/1 with BetVictor to join Real Madrid
"We are not free to speak with anybody at the moment, that's where we are. I don't know if there has been any offer, what I know is that the player has three years left on his contract."
Neymar moved to Camp Nou in a deal, all considered, thought to be worth around £45m, but Barnett believes his client would demand a higher figure.
"He's worth more," he added. "He's better than Neymar, he's proved himself in one of the best leagues in the world."
And the representative also hinted that Madrid should have prioritised Bale rather than making a late bid for the Brazilian.
"I would hope that any club that wants him wants him not because they lost Neymar, but because he is their first choice. Whatever Neymar costs, Gareth Bale is worth more," he concluded.