Hi everybody,  I just got into modeling and was hoping that someone can let me know what to be on the lookout for when signing releases?
  Is it standard that the photographer retains the right to sell the photos, especially if its TFCD/P work?
  I'd appreciate a little info about that, and any other general advice about how to avoide getting screwed.  Thanks!

If you ask a dozen photographers, you are going to get a dozen answers.  No matter what answer I give you, you will get people to disagree, because nobody agrees on this.

In a perfect world, when you do a TFP, you would get a license from the photographer to use the images for promotional purposes and you would execute a release that have him the right to use your likeness for the same promotional purposes.  Alternative, he would give you a license to use and resell the images and you would give him a release granting him the same rights.

That is a perfect world.  Many photographers are going to require you to sign a full release, giving them the complete rights to do whatever they want with the images he shoots but restrict you to some kind of promotional use of the images he provides you.  Unfortunately, there are many photographers that use this lopsided arrangement.  I am not going to tell you if it is right or wrong.  Many will argue passionately that they need to recover their cost of equipment, etc. and are unwilling to do a TFP without the model executing a full release.

Your job is to decide whether or not you are willing to agree to their terms.  You are not being "screwed" if you understand what you are signing and do so willingly.  Just remember, you have the right to say "no" and decline the shoot.   The important thing is to ask the photographer what kind of release he expects you to sign and what rights he is going to grant you.  Then you can make an informed decision.

In terms of paid shoots, in the glamour world and Internet world, the common practice is to have the model sign a full release.  That is just the way of the world.  Sometimes you can get the photographer to agree to use a stage name rather than your real name.  Photographers will also sometimes agree not to re-sell your photos to Internet content providers (that is where the shots are sold to companies that resell them many times over).  Beyond that, many photographers have a particular release and will not negotiate (although some will).  Again, you need to read the terms, weigh that against what you are being paid and then decide if you want to accept the deal.

In the commercial (read that non-Internet) world, particularly when you are booked with an agent, you will often not be asked to sign an unlimited release, but instead a release which is limited to a specific usage.  Some commercial clients might offer that even if you don't come from an agency.  In that case, what you are negotiating is usage.  However, generally speaking, if you get bookings for paid gigs off sites like MM, you will be asked to sign a full release if you get paid.

I don't think that was the answer you wanted to hear, but I hope you understand better.

Alan has given you a good appraisal of the modeling agreement situation.  Visit my website if you would like to see an example modeling agreement, the agreement that I provide for most of the models whom I pay for myself. 

I consider it to be a fair agreement, and it is at least fair in that it is there publicly for models to read before they decide whether to pose for me.  I recommend that no model accept a shoot until after receiving a copy of the agreement they will be asked to sign on the date of the shoot.  Some photographers choose to operate differently.

When I hire a model for client-paid work I offer an agreement that specifies strict limits on photo usage, since the clients only pay for specific usage.  The model, the client and I all sign that agreement.

When I occasionally do TFP work I offer models an agreement specifically stating that either party may use the photos to promote themselves but that any other commercial use requires separate consent and compensation. 

I don't do TFP very often precisely because I have sometimes found it inconvenient to hold only limited rights to photos in my catalog.  While I have been in business for several years, models tend to disappear after awhile and can become difficult to locate if I need to negotiate additional rights.  That is the reason I pay for unlimited rights when I hire models on my own.