Many male models shave their legs and other body parts like their chest and back. But not always down totally smooth with a razor. Often they will trim the hair to 1/8 of an inch so that the hair isn’t detectable to the camera, but they don't risk razor side effects like cuts, nicks or razor burn.
Philips Norelco Bodygroom 2030 is a great all around cordless tool that allows you to trim down hair to five different lengths in or out of the shower. Put on another special foil blade attachment and it will shave hair totally down (read review).
No male model wants to come to a shoot with razor bumps or ingrown hairs on their face or body. These bumpfighting products (see list) work for preventing and beating them.