Re: Paying for portfolio shots prior to being signed ... generally it doesn't help a lot, because a good agency/booker can spot your potential in a polaroid.
And in fact, most bookers prefer to see you without all of that makeup and lighting. That is the reason why experienced models go to open calls with minimal makeup, hair pulled back and body conscious clothing on ... so the bookers can see the "real" model underneath. And .... if you are at an open call and they are actually interested in you, they will take a polaroid anyway (well, nowadays it's more likely to be a dgital) and sometimes a video, without makeup and hair done and without all that special lighting ... and use that to make their decision ... not your jacked up portfolio shots. The exception ... is if you are an experience model and have an existing portfolio showing work you have actually done ... bring that along with you to open calls.
Secondly ... if you get signed, most likely the agency will want you to start over and get new portfolio pictures done ... to their specifications. So .... it's a lot a money just to be thrown out. Yes ... good portfolio pics are a must for when you are going out on casting calls or go sees to potential clients. So why not just have your agency help you get the best photographer to market your look, after they sign you? That's their job ....
Now ... I didn't say great pictures never helped. They might help, sometimes, if you know what a specific agency is looking for. But usually they don't help much. So, you have to weigh the cost of building a portolfio on your own, against the fact that it all will probably be redone as soon as they sign you.
If you have the bone structure, the body and look that they need ... you will get snapped up anyway. You don't need them ....
Re: using web sites to promote yourself .... I honestly think that's not necessary, either. You have a better chance of getting seen if you go to open calls and send in snapshots to local agencies instead ... so you know someone will be glancing at them who is actually in a position to "sign talent". The agents I have talked to tell me that they don't look at any sites very often .... they have thousands of wannabes who approach them ... who come in to their open calls, or send in their photos. They already have plenty of options there without having to scour the internet.
Scouts seem to spend more time doing this, because they work on a commission (self employed), if they refer girls that actually work out. But scouts are not the decision makers ... they just send pics to the actual bookers who will take a qjuick look. So why not get in front of the bookers yourself ... at open calls or just send in your pics yourself?
If you do decide to put your pics up on a site like this .... be sure it's not the wrong kind (most of them are not legit fashion and commercial sites) ... they are not helpful if you want a career in fashion.
Be aware that:
Exposure in the wrong place, might not be good for your career, if you get signed later. A tremendous number of sites are used mostly by "web models" ... and that is not fashion, nor commercial modeling ... or anthing like that. It's usually modeling for men who like to look at women and take sexy pictures. If an agency found out that you had that reputation because you unkowningly had your pictures on some of these sites ... they would not be happy about it. Be careful where you put your pictures ... it could come back and haunt you.
More importantly, remember that on any site, Models.com or any other legit modeling site, you will be making yourself very vulnerable to predators who love to search for prey on these types of sites. These guys (and women) know that aspiring models are especially susceptible to anything they might propose .. telling aspiring models that they are agents, photographers, etc. ... as a way to get your trust. Be very, very cautious if anyone says they want to meet at any other place than a legitimate agency. It's dangerous!