How to reduce long delay in Live broadcast

hi, i am using "SmoothStreamingMediaElement" to view Live broadcast ISML. everything is running locally on my win 7 IIS media services.

i am getting a delay of atleast 30 seconds in my broadcast view.  my expresson encoder 4 is using streaming at 480p.

this delay seems huge while everything is running locally. is there any way to reduce this delay to like few seconds ?

thanks