Yes, ferrets do have a distinct smell. This is due to their musk glands which produce an oily secretion that gives them their characteristic odor. Ferrets also tend to mark their territory with this scent by rubbing against objects in the environment. The smell can be more pungent when they are stressed or excited and can become stronger over time if not regularly cleaned. Regular baths and grooming will help reduce the odor from your pet ferret.