Researches for time delay estimation had been studied broadly. However studies about factors for time delay estimation are insufficient, especially in case of real environment application. In 1997, Brandstein and Siverman announced that performance of time delay estimation deteriorates as reverberant time of room increases. Even though reverberant time of room is same, performance of estimation is different as the specific part of signals. In order to know that reason, we studied and analyzed the factors for time delay estimation using speech signal and room impulse response. In result, we can know that performance of time delay estimation is changed by different R/D ratio and signal characteristics in spite of same erberant time.