Balotelli, 26, said last week he was going to take a break before evaluating his next move, with a stay at Nice still possible.
But Raiola has revealed they face competition, with Bundesliga giants Dortmund and domestic rivals Marseille also keen to swoop.
"Balotelli trusts me," Raiola said to Corriere dello Sport.
"I am picky and he knows it. Will he remain at Nice? We will see. He is wanted by Borussia Dortmund and Marseille.
"His performances at Nice have been positive, though Mario has to give much more because he doesn't have many more chances.
"At the same time, I'm happy to see him very empowered in his role as a father."